Terengganu attracts RM29.7 billion in investments – ECERDC
KUALA LUMPUR: Terengganu has secured RM29.7 billion in domestic and foreign investments between 2007 and May 2017, which in turn had created over 30,800 jobs, said East Coast Economic Region Development Council (ECERDC).
In a statement here yesterday, the council said, the state's strong investment performance was derived from the manufacturing sector, which contributed 51 per cent of the total investment, followed by the bioeconomy sector at 22.6 per cent.
It said up until May this year, 72 projects worth RM3.9 billion, which were developed by Bumiputera companies, had received incentives and support from ECERDC and /or Federal Government's Bumiputera Agenda Steering Unit (TERAJU@ ECER).
ECERDC Chief Executive Officer, Datuk Seri Jebasingam Issace John, said in line with the National Transformation Agenda, the council would continue to pursue a development agenda which was inclusive and sustainable including the economic empowerment of the Bumiputera community.
"We are encouraged by the achievements of the local entrepreneurs and they have been one of the core enablers of the socio-economic transformation in Terengganu," he said.
ECERDC said the Kuala Terengganu City Centre (KTCC) transformation was taking shape and construction works for the drawbridge linking KTCC''s Muara Selatan and Muara Utara were currently 83 per cent completed.
"Development in Terengganu is also set to intensify with the construction of the 600km InfraRakyat East Coast Rail Line (ECRL) project which will enhance connectivity and mobility across the state including in the districts of Kemaman, Kertih, Besut and Kuala Terengganu.
"As a result, more growth centres will be created and this will boost the state's economy, generating more employment and entrepreneurial opportunities for the local communities," it said.
Meanwhile, ECERDC's human capital development programmes, such as Empower ECER, Entrepreneur ECER and Agropolitan, had continued to ensure an inclusive socio-economic ecosystem in Terengganu by upskilling and enhancing the talent pool as well as facilitating entrepreneurship opportunities for the local population especially in the rural areas, the council said.
It said, to-date, over 20,920 people had directly benefitted from the inclusive programmes of which 90 per cent were from the B40 income group and 96 per cent are from the Bumiputera community.
The B40 refers to the bottom 40 per cent of households with monthly income RM3,900 and below.