NCER Records RM48.25 Bln Realised Investments In First 9 Months Of 2024 - Anwar

KUALA LUMPUR, Oct 16 (Bernama) -- The Northern Corridor Economic Region (NCER) has successfully realised RM48.25 billion in investments during January to September this year, a 60 per cent growth compared to the same period last year, Prime Minister Datuk Seri Anwar Ibrahim said.

He said NCER also saw 10,529 new job opportunities through these realised investments.

“This was conveyed when I chaired the 32nd Northern Corridor Implementation Authority (NCIA) meeting today,” the Prime Minister posted on his official X handle on Wednesday.

Anwar said the meeting also discussed initiatives to support the NCER investment ecosystem in line with the NCER Strategic Development Plan 2024-2030, including the development of a technology innovation centre, agro-food hub and energy transition 

“Such planning is important in the MADANI government’s effort to ensure that NCER continues to attract investments related to strategic high-impact and high-value industries,” he added.

In a statement, NCIA said that from 2009 to September 2024, investments totalling RM248.42 billion were successfully realised in NCER with the manufacturing sector being the largest contributor (RM209 billion), followed by tourism (RM26.13 billion), logistics (RM7.48 billion), agriculture and bio-industry (RM4.65 billion) and the digital economy (RM1.12 billion).

NCIA chief executive Mohamad Haris Kader Sultan said the main investments facilitated by the NCIA are from multinational electronics companies, such as Western Digital in Penang, Infineon Technologies, and Ferrotec Manufacturing Malaysia in Taman Teknologi Tinggi Kulim, Kedah

“This success was achieved with the cooperation of the Federal Government, state governments, ministries, and agencies such as the Ministry of Investment, Trade and Industry; the Malaysian Investment Development Authority; and NCIA,” he said.

During the meeting, NCIA also presented four major initiatives aligned with the MADANI Economy's goals, including the NCER Technology Innovation Centre (NTIC), the NCER Agro-Food Hub, the energy transition strategy, and the Rare Earth Resource Value Chain (REE).

“These initiatives will foster private-sector cooperation to attract more high-value investments to NCER, driving sustainable economic growth and supporting the development of micro, small, and medium enterprises,” Mohamad Haris said.

-- BERNAMA