The Borneo Post (Sabah)
ECER drew RM2.6 bln committed investments in Q1 2021
KUALA LUMPUR: The East Coast Economic Region (ECER) managed to attract committed investments worth RM2.6 billion in the first quarter of 2021 despite facing numerous challenges brought about by Covid-19.
It secured a cumulative committed investment of RM17 billion under the ECER Masterplan 2.0 (EMP 2.0) from 2018 until February 2021, that is expected to create more than 15,000 jobs and 1,800 business opportunities.
East Coast Economic Region Development Council (ECERDC), the body that oversees the development of ECER, has maintained its target for private investment worth RM70 billion by 2025 as underlined in the EMP 2.0.
Chief executive officer Baidzawi Che Mat said ECERDC would continue to focus on attracting foreign investment from Regional Comprehensive Economic Partnership (RCEP) countries such as Japan, China and South Korea as well as intensifying efforts to draw investments from Germany and two new target countries, Russia and India. “In the short-term, we expect it will be a challenge to attract new investment because the economy is still in recovery phase owing to the pandemic,” he said in a statement in conjunction with an ECERDC council meeting yesterday.