KUALA LUMPUR: The East Coast Economic Region Development Council (ECERDC) is embarking on an investment mission to the Middle East from May 7 to 17 to attract Gulf investors to the development corridor.
In a statement on Thursday, May 6, the ECER secretariat said the mission, led by national corridor development adviser and former prime minister Tun Abdullah Ahmad Badawi would take place in the cities of Abu Dhabi, United Arab Emirates (UAE), as well as Jeddah and Riyadh in Saudi Arabia.
It said the mission was the result of a collaboration between the Malaysian Industrial Development Authority (Mida), the Malaysian embassies in UAE and Saudi Arabia, with the participation of officials from ECERDC, ECER state governments and Halal Development Corporation.
ECERDC will conduct a series of business meetings with identified potential investors from the Gulf region, including the Abu Dhabi Department of Economic Development, Emirates Investment Authority and Riyadh Chamber of Commerce and Industry.
"With so many different regional corridors and Special Economic Zones being developed all over the world, it is imperative for us to distinguish ECER from the rest," said ECERDC CEO Datuk Jebasingam Issace John.
He said ECER Malaysia offered an integrated package to investors from the Gulf, including attractive fiscal and non-fiscal incentives, abundant natural resources, good infrastructure and ready supply of human capital, plus competitive cost of doing business as compared with the West Coast of Malaysia.
Issace said ECERDC aimed to attract RM30 billion worth of investments in the region under the Tenth Malaysia Plan.
He said ECERDC had identified several key projects to be promoted to Middle East investors. For tourism, the projects include Pantai Sepat Mainland Coastal Tourism and Cherating Mainland Coastal Tourism in Pahang, as well as Teluk Bidara Mainland Coastal Tourism in Terengganu.
In the oil, gas and petrochemical sector, the key projects to be promoted are the Kertih Polymer Park and Petronas Petroleum Industry Complex (PPIC) in Terengganu, as well as the Gebeng Integrated Petrochemical Complex (GIPC) in Pahang.
Another key project that will be promoted is Tanjung Agas Oil and Gas and Maritime Industrial Park, located south of Kuantan Port. This park will act as a modern one-stop service centre and offshore base that will serve and support the region’s upstream and downstream oil and gas exploration and production activities.
For manufacturing, the key projects are the Pekan-Peramu Automotive Industrial Park, Gambang Halal Park and Palm Oil Industrial Cluster in Pahang, as well as Pasir Mas Halal Park in Kelantan.
Key agriculture projects consist of the Poultry Production Park as well as Herbal and Biotechnology Park (in Kelantan and Pahang), Livestock Production (Terengganu and Pahang), as well as Rompin Integrated Pineapple Plantation (Pahang).
For the education and ICT sector, the main projects to be promoted this year are the Knowledge Park, the International Digital Business Exchange (IDBX) and the Global Animation Centre, all in Terengganu.
Issace said a key area for investment was the halal business as one of the world’s fastest-growing markets. These halal products consist of both food and non-food items such as cosmetics, toiletries, pharmaceuticals, medical products, attire and accessories, he said.
He said currently the global halal market was worth about US$2.1 trillion (RM6.8 trillion) per year, with the Gulf Cooperation Council importing nearly US$44 billion worth of halal products per year.
Meanwhile, ECERDC will give more emphasis to key development areas (KDA) located within six Focus Nodes. They are the ECER Special Economic Zone (ECER SEZ), Tok Bali-Besut-Kota Bharu-Tumpat Cross Border Development, Kuala Terengganu City Centre-Kenyir-Dungun Triangle, Mersing-Rompin KDA, Gua Musang-Kuala Lipis KDA and Bentong-Raub KDA.