NCER Records RM31.38 Bln Investments In Penang In 1H2024

GEORGE TOWN, Aug 20 (Bernama) -- The Northern Corridor Implementation Authority (NCIA), in collaboration with the Malaysian Investment Development Board (MIDA), has successfully secured RM31.38 billion in investments for Penang in the first half of 2024 (1H2024).

NCIA chief executive, Mohamad Haris Kader Sultan said that this impressive achievement reflected investors' strong confidence in the long-term potential of the Northern Corridor Economic Region (NCER), particularly Penang.

He said the investments encompass key sectors outlined in the NCER Strategic Development Plan, including high-value manufacturing, advanced services, and modern agriculture, creating more than 6,600 jobs in 1H2024.

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In a statement today, he said the positive performance will catalyse NCER's efforts to attract investments and enhance the business ecosystem in 2H2024, leveraging NCER’s regional advantages, especially in the electrical and electronics (E&E) and semiconductor sectors.

Meanwhile, Mohamad Haris also said the NCER Technology Innovation Centre (NTIC) building in Bayan Lepas here has been completed and will commence operations soon.

NTIC is a programme under NCER's Technology Valley initiative that focuses on activities related to research, product development and specialised design.

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The programme also acts as a platform for large local companies, multinational companies, start-ups, individual technocrats and young entrepreneurs to carry out technological and high-value-added activities at NCER and subsequently generate their own intellectual property.

The NTIC is expected to boost innovation, research and development activities as well as enhance the value chain for small and medium enterprises (SMEs), which will further strengthen Penang's position as a technology and innovation hub in the region.

Mohamad Haris highlighted that 16 Penang SMEs have already benefited from matching grants under the NTIC programme, aimed at improving their value chains through the Centre of Excellence and Technology and Innovation initiatives in 1H2024.

“Besides that,  a total of 144 local workers have been approved to undergo technical skills training under the Advanced Technology Meister Programme (ATMP) initiative," he added.

-- BERNAMA