Tereng­ganu up­beat on eco­nomic growth

> MB: State ag­gres­sively woo­ing in­vest­ments, aided by re­gional de­vel­op­ment coun­cil

The Sun (Malaysia) - - SUNBIZ - BY EVA YEONG

KUALA LUMPUR: The Tereng­ganu gov­ern­ment ex­pects the state’s gross do­mes­tic prod­uct (GDP) to grow 4.8-5% this year, said Men­tri Be­sar Ah­mad Razif Ab­dul Rahman (pix).

“The state gov­ern­ment ex­pects the state’s GDP to rise to RM41.5 bil­lion in 2020 com­pared with RM27.5 bil­lion in 2015. Tereng­ganu, with help from the East Coast Eco­nomic Re­gion De­vel­op­ment Coun­cil (ECERDC), is ag­gres­sively at­tract­ing in­vest­ments in or­der to meet the GDP tar­get,” he told re­porters at the sign­ing of in­vest­ment agree­ments yes­ter­day.

Ah­mad Razif said he is con­fi­dent of achiev­ing its GDP growth tar­gets based on the 18 en­try point projects (EPPs) un­der the Tereng­ganu Key Eco­nomic Ar­eas (TKEA) and 71 com­mit­ted projects.

“This year alone the hang­ing fruits are four projects that will take off. The first two are those we signed to­day, as well as a main­te­nance, re­pair and over­haul (MRO) project and a cargo hub at the air­port. So hope­fully, next year, among the 71 projects, four will be launched,” he added.

The MRO project and cargo hub will both be im­ple­mented at the Sul­tan Mah­mud Air­port. Yes­ter­day, the state gov­ern­ment for­malised two in­vest­ments within the East Coast Eco­nomic Re­gion (ECER).

Ah­mad Razif said the two projects were iden­ti­fied dur­ing the Eco­nomic Trans­for­ma­tion Lab held ear­lier with Pe­mandu in Septem­ber 2015. The two projects are part of TKEA 2: Tourism and TKEA 3: Biotech­nol­ogy.

The first agree­ment, signed with Tiara View Hous­ing De­vel­op­ment Sdn Bhd, is for the de­vel­op­ment of a mixed project with a gross de­vel­op­ment value of RM2.4 bil­lion in Kuala Tereng­ganu City Cen­tre’s (KTCC) Muara Utara.

The main com­po­nents are a ho­tel, ser­vice apart­ments, SOHOs (small of­fices/ home of­fices), a shop­ping mall and a theme park to be de­vel­oped on gov­ern­ment land mea­sur­ing 3.8ha at Par­cel N3.

The de­vel­op­ment will be done in three phases with the first to be­gin early 2017. The en­tire project will be com­pleted in 2024 and is ex­pected to cre­ate 1,500 jobs.

“The state gov­ern­ment and ECERDC have pre­pared ba­sic in­fra­struc­ture, in­clud­ing a draw­bridge that is un­der con­struc­tion at Muara Utara Sun­gai Tereng­ganu, mea­sur­ing 56.5ha. The state gov­ern­ment and ECERDC are also con­sid­er­ing and re­fin­ing pro­pos­als from in­vestors who are keen to in­vest in other parcels,” Ah­mad Razif said.

In KTCC, in­fra­struc­ture projects in Muara Utara have been com­pleted since April 2016. By next year, a 30-storey build­ing for the Kuala Tereng­ganu City Coun­cil’s new head­quar­ters in Muara Se­la­tan will be com­pleted.

The sec­ond agree­ment, signed be­tween the state gov­ern­ment, ECERDC and the Tereng­ganu Her­itage Trust Fund Board, will see ECERDC de­vel­op­ing and man­ag­ing Ker­tih Biopoly­mer Park. The agree­ment in­volves Phase 3 of the park, which takes up 237ha. The es­ti­mated cost of de­vel­op­ment and ba­sic in­fra­struc­ture is RM251 mil­lion. Ah­mad Razif said the en­tire park mea­sures 367ha. Phases 1 and 2, mea­sur­ing a to­tal of 130ha, have al­ready been com­pleted. Two in­vestors, CJ CheilJedang Corp from South Korea and Arkema from France, have be­gun op­er­a­tions at the park. To date, RM5 bil­lion has been in­vested in the park. “The Tereng­ganu state gov­ern­ment and ECERDC are in the midst of fi­nal­is­ing another in­vest­ment worth RM840 mil­lion for the pro­duc­tion of bi­ol­u­bri­cants and the pro­duc­tion of syn­thetic rub­ber gloves with an in­vest­ment value of RM970 mil­lion,” the men­tri be­sar said, adding that the project was also iden­ti­fied dur­ing the lab ses­sion. Tereng­ganu at­tracted RM26.3 bil­lion in in­vest­ments be­tween 2007 and Septem­ber 2016, cre­at­ing 30,078 jobs. The state is part of ECER, which in­cludes Ke­lan­tan, Pa­hang and the district of Mers­ing in Jo­hor.

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