ALOR STAR – The high-impact Kedah Rubber City (KRC) project in Padang Terap has so far attracted potential investments of more than RM2.1 billion, with more than 5,000 jobs generated by local rubber industry players.
Buoyed by the attractive and comprehensive fiscal incentive package, these industry players have given their commitment to be part of the project which is expected to start operating in the second quarter of next year, said Kedah Menteri Besar Muhammad Sanusi Md Nor.
“KRC has great potential thanks to the increasing global demand for rubber products. The first phase of the project started last year and its progress of implementation is currently at over 30%.
“Work on the manufacturing and logistics ecosystem is underway, and KRC will be ready to accept investors starting this year,” he said in a statement here today.
Sanusi said that once fully completed, KRC will be ready to drive Malaysia back to its role as a world leader in the rubber industry, which will benefit its people through new job opportunities and increased income.
KRC, spanning 503 hectares in Padang Terap, is the first national-status rubber industrial park project in Malaysia undertaken by the state government in collaboration with the Northern Corridor Implementation Authority (NCIA).
Meanwhile, NCIA has also approved a new RM10 billion investment from a major glove manufacturer that is interested in expanding its production lines at the Kulim Hi-Tech Park and Kedah Science and Technology Park, said the menteri besar.
NCIA chief executive Datuk Seri Jebasingam Issace John said that last year, the Northern Corridor Economic Region (NCER) approved investments through its fiscal incentives worth almost RM10 billion and generated more than 15,000 jobs in the manufacturing, logistics and agri-bio sectors for Kedah last year.
He said the NCER’s success in attracting investments during this challenging period is evidence of the economic resilience of the country and region.
“Coupled with the focus on enhancing the NCER talent ecosystem through integrated human capital programmes, the people can expect to see strong and sustainable socio-economic development when this challenging period ends,” he said. – Bernama, January 18, 2021
.jpeg)
.jpg)
