Strong FDI growth seen FOR NCER

Conducive environment credited

The Northern Corridor Implementation Authority is confident that the Northern Corridor Economic Region would be able to record double-digit growth in FDI this year.

KUALA LUMPUR: The Northern Corridor Implementation Authority (NCIA) is confident that the Northern Corridor Economic Region (NCER) would be able to record double-digit growth in foreign direct investment (FDI) this year.

Chief executive Datuk Redza Rafiq said the region would continue to be a destination for FDIS because of its conducive business environment and culture, strong infrastructure and logistics network.

“If the ecosystem is good, there is no reason why I should not be confident that NCER would continue to be the destination of choice for FDI,” he told Bernama.

He said last year, the amount of FDI into the region as reported by the Malaysian Investment Development Authority was Rm15.3bil.

The authority itself was able to attract almost Rm10bil investment, of which 90% came from foreign investors.

Redza said the NCER, through its “Corridors and Cities” (C&C) Labs had identified six new development areas to be further explored this year.

The areas are biotechnology, transportation-based manufacturing, paddy estate amalgamation scheme, large-scale pineapple farming, healthcare travel and shared services among companies in the NCER.

The C&C Lab is a federal government initiative to align the initiatives among all corridors, solve issues and develop detailed implementation programmes critical to ensuring executive and monitoring. — Bernama