THE Northern Corridor Implementation Authority (NCIA) has secured a total of RM15.5 bil in investments this year, exceeding its 2020 investment target by more than 120%.
The regional development authority said it had outperformed its RM7 bil target through the provision of strong business stimulus incentives and attractive tax structures.
According to NCIA, the approved job creation in 2020 is more than 23,000 jobs compared to the original target of 5,900 jobs.
“Although the region’s gross domestic product (GDP) is forecasted to contract by 4% this year due to the ongoing pandemic, NCIA has regained the momentum and will continue implementing strategic projects and initiatives as approved in the Northern Corridor Economic Region (NCER) Strategic Development Plan (SDP) 2021-2025 to mitigate the socioeconomic impact of the outbreak on the rakyat.
“NCER should be back on track to pre-COVID-19 levels in 2021,” it said in a statement last Monday.
NCIA said 16 Bumiputera companies had committed to invest almost RM500 mil, and almost 750 jobs had been created under the Dana Usahawan Bumiputera programme up to end-October.
NCIA chief executive Datuk Seri Jebasingam Issace John said NCIA’s foremost priority in 2021 under the 12th Malaysia Plan was to expedite the implementation of the SDP and ensure a quick and visible impact on the ground for the people.
“The success of NCIA’s strategic and high-impact projects, as well as human capital programmes, are catalysts for NCER to be a world class economic region and technology hub,” he said. – Nov 19, 2020
