RM57.1 mil FDI from Jan-Sept 2021: Kedah’s development on right track, says MB

ALOR STAR – Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor lauded the 2035 Kedah Development Plan as being on the right track, as the state attained RM57.1 million in foreign direct investments (FDI) from January until September last year.

He said the plan is on track since its launch in 2018 and the state is confident of attaining its goal of RM10 billion in FDI yearly.

“The mid-term review of Phase 1 of the 2035 Kedah Development Plan will be carried out in mid-2023. However, when the state and the world in general were hard-hit by the effects of Covid-19, Kedah performed well,” he said.

Sanusi said this when answering an oral question from Datuk Seri Mukriz Mahathir (Jitra-PN) during the state assembly proceedings yesterday.

As an example, he noted that AT & S Austria Technologie & Systemtechnik (Malaysia) Sdn Bhd has invested RM10.845 million, Risen Solar Technology Sdn Bhd has invested RM42.231 million, and Menicon Malaysia Sdn Bhd RM1.947 million.

Sanusi said this in his reply to a question by Datuk Phahrolrazi Zawawi (Alor Mengkudu-PH). 

According to Phahrolrazi, the state had approved RM1.054 billion in investments for Yuhua Paper Industry Sdn Bhd and RM820 million for Aspen Glove Sdn Bhd, combined to a total of RM1.874 billion.

Sanusi also said that the Special Border Economic Zone at Bukit Kayu Hitam beside the Thai border is performing well, with Northern Gateway Sdn Bhd, a sister company of the Finance Ministry’s MOF Inc., successfully bringing in RM7.2 billion through three development projects.

He said the projects were supported by infrastructure high-impact projects under the Finance Ministry, as a water treatment plant in Kubang Pasu was approved in line with BKH-SBEZ projects.

He described the Kedah Rubber City project as a “game changer” in the Northern Economic Corridor and expressed optimism that it will be a “Rubber Belt” at the Thai-Malaysia border areas. – The Vibes, March 22, 2022