CORRIDOR SET TO BECOME NEW GROWTH ENGINE
State government expects project to contribute RM3b to RM4b to GDP by 2035
THE Melaka government is expecting the Melaka Waterfront Economic Zone (M-WEZ) to contribute about five per cent, or RM3 billion to RM4 billion, to the state’s annual gross domestic product (GDP) by 2035.
“The economic growth will be underpinned by M-WEZ’s maritime-oriented zone, given the long coastline and its position as a natural, deepwater harbour,” said Chief Minister Datuk Sulaiman Md Ali after launching the economic corridor yesterday.
He said the state’s main focus was to make the maritime sector a major economic contributor.
“The Straits of Malacca is the world’s busiest shipping lane. It is an opportunity for Melaka to attract potential investors to invest in port facilities.”
Sulaiman said the Tanjung Bruas Port was unable to accommodate large vessels.
“If we can have better facilities and technology, we can attract more ships to Melaka port.
“The development of the port will be carried out by investors and we will offer them incentive packages.”
Sulaiman said the state government would encourage the development of container and general cargo ports, cruise and ferry terminals, free-trade zones, logistics hub, oil and gas terminals, ship repair yards and ship-toship (STS) transfer facilities.
“STS operations will enable ships to transfer their cargo to other vessels without having to dock at the piers, allowing higher shipping flexibility and reducing costs for shippers,” he said.
The M-WEZ will sit on 10,117ha of coastal and reclaimed land along 33km between northern Melaka near Sungai Udang and southern Melaka in Umbai.
“It will be the new growth engine and a game changer that is expected to attract more than RM100 billion in high-impact and high-value investments globally over 15 years.
“It is also expected to generate more than 20,000 jobs annually.”
Sulaiman said the state government had consulted the federal government in terms of the infrastructure planning.
“We will present the documents to the National Physical Planning Council on May 6.”
M-WEZ is one of the state’s strategic plans to create a sustainable and viable development using smart and green technologies.
M-WEZ will have five clusters, namely Melaka Harbourfront, Smart Logistic Nucleus, Digital Satellite Township, Central Eco Business Park and Trade Nucleus New Township.