NCER has attracted RM12.3bil in investments this year

PUTRAJAYA: The Northern Corridor Economic Region (NCER) has attracted RM12.3bil in investments and created 16,335 jobs to date. Last year, the region attracted RM9.9bil in investments with 10,369 job opportunities, the Northern Corridor Implementation Authority (NCIA) said. NCIA CEO Datuk Redza Rafiq said the major investments came from the agriculture and manufacturing sectors, with strong participation from Japanese investors. “Local private sector participation in the economic region grew from 19.4% last year to 39% this year,” he said after exchanging an MoA with four companies, witnessed by Prime Minister Datuk Seri Najib Tun Razak, here yesterday.

The companies are Cypark Resources Bhd, Naza Automotive Manufacturing Sdn Bhd, TS Solartech Sdn Bhd and Toyo Tires Manufacturing (M) Sdn Bhd. The MoA will see the companies involved in the renewable energy and motor vehicle sectors expand their businesses by building new plants and exploring new opportunities in the economic region. Redza said NCER would enter the second phase of development next year. “NCIA will be looking to broaden private sector involvement, including establishing networks of business and cultivating both foreign and domestic linkages.

“The ultimate objective is to deliver growth with social equity in the northern corridor, by positioning it as a diversified region renowned for its core business clusters, with spending power generated through the creation of jobs and business opportunities,” he said. Earlier, Redza attended a meeting with Najib to discuss the development and direction of NCER. “The Prime Minister has given us the thumbs-up and said he's very satisfied,” said Redza, adding that the meeting also set an investment target for next year.

He, however, declined to reveal the figure. - Bernama

Source: The Star Online - Friday December 14, 2012