DESPITE the gloomy atmosphere in Malaysia due to the ongoing pandemic, the Northern Corridor Implementation Authority (NCIA) still managed to secure investments of over RM16 bil for 2021, generating over 19,652 job opportunities.
Following the announcement at the 26th NCIA Council meeting, Prime Minister Tan Sri Mahiaddin Yassin also witnessed eight companies expressing commitments to make high-impact investments in various states around the country like Kedah, Penang, Perak and Perlis.
Among some of them, two pioneer investors, Hong Seng Industries Sdn Bhd and LTS Logistics Sdn Bhd, have agreed to cumulatively inject RM1.55 bil into Kedah Rubber City (KRC), the first dedicated Rubber Industrial Park in the country and are expected to create 4,430 jobs.
In the electrical and electronics (E&E) industry, Bayan Lepas-based Intel Technology Sdn Bhd and Intel Microelectronics (M) Sdn Bhd, plans to invest RM4.4 bil in the Northern Corridor Economic Region (NCER), creating an estimated 1,593 jobs.
Apart from that, Batu Kawan-based Greatech Integration (M) Sdn Bhd will be investing an additional RM1.6 billion on a new operations facility, expected to commence operations in Q4 2021, which is expected to create 450 jobs.
Another E&E investor is Infineon Technologies (Kulim) Sdn Bhd, injecting RM2.65 bil in its high-end fully-integrated wafer fabrication facility in Kulim Hi-Tech Park which is expected to create 1,815 new jobs.
The investments received in collaboration with the Ministry of Finance (MOF), the Economic Planning Unit (EPU) and the Ministry of International Trade and Industry (MITI) as well as the Malaysian Investment Development Authority (MIDA) are all in line with the Government’s National Recovery Plan.
The meeting enabled the council to be presented with updates on the various socioeconomic plans like the COVID-19 recovery plan as well as the implementation of human capital programmes focused on the rakyat’s welfare.
“Under the National Recovery Plan, the Government seeks to provide vaccines to as many members of the population as possible in Malaysia by the end of this year or earlier. This will help to revive the current pandemic situation including business and economic activities,” said the Prime Minister.
The massive investments secured by the NCIA this year is a testament of the investor community’s confidence in the viability of Malaysia, their confidence in the Government to manage the pandemic and the agency’s success in building a resilient ecosystem that drives recovery, post-COVID-19 pandemic, while providing social safety nets for the people. – June 25, 2021
