New Straits Times
Kelantan drew RM12b private deals as of Jan
KUALA LUMPUR: Kelantan, via East Coast Economic Region Development Council (ECERDC), drew RM12 billion worth of private investments as of January this year.
According to ECERDC, 69 per cent of the deals comprised domestic direct investments, reflecting the growing participation and empowerment of local businesses and entrepreneurs.
Investments made by Bumiputera companies had been a key enabler of Kelantan’s socio-economic growth, contributing 42 per cent to the state’s total private investments, the agency said in a statement.
The investments have created 27,956 jobs and 7,326 entrepreneurial opportunities in key economic and small and medium enterprises sectors.
A total of 50 projects worth RM5.04 billion, which had received East Coast Economic Region (ECER) incentives and Facilitation Fund under Teraju@ECER, created more than 6,790 jobs for the locals.
ECERDC chief executive officer Datuk Seri Jebasingam Issace John said the improvement of the people’s livelihood through jobs and entrepreneurial opportunities had been a core feature of its development projects and programmes in Kelantan.
“As we commemorate our 10th anniversary this year, we will continue to spur the growth of private investments through various high-impact ‘infrarakyat’ projects and human capital development programmes.
“We are also leveraging Kelantan’s strategic location due to its proximity to the Indochina region, making it a cross-border gateway and an ideal logistic centre for the northeast of Peninsular Malaysia,” he said.
Jebasingam said the spillover economic benefits were tremendous and would help facilitate greater investments, particularly among domestic and Bumiputera investors, in the state, ultimately creating more jobs and entrepreneurial opportunities for the rakyat.