ALOR STAR – The Kedah government expects to attract RM10 billion in new investments to the state next year, said Menteri Besar Datuk Seri Muhammad Sanusi Md Nor.
He said to achieve the target, it requires hard work and cooperation with various parties, including the Malaysian Investment Development Authority.
“We target that every year (starting next year), we will attract at least RM10 billion investments to Kedah as we have industrial areas that have the potential to attract new investments such as the Kulim Hi-Tech Park (KHTP), Special Boundary Economy Zone in Bukit Kayu Hitam, Kedah Rubber City, and existing industrial areas in Gurun, Bukit Selambau, and Sg Petani.
“These areas in Kedah will attract investors to provide employment opportunities and economic benefits with the increase in industrial activities,” he said at a press conference after presenting Kedah’s Budget 2022 at the state assembly here today.
Earlier, when presenting the budget, Sanusi said the state government had managed to attract investments totalling RM43.6 billion this year, despite facing the global economic gloom due to Covid-19.
“It involves RM42.5 billion in the manufacturing sector, and RM1.1 billion in the services sector and key industries. The increase in investments this year has made Kedah among the leading states in Malaysia,” he said.
He said the major investments this year include those in the field of renewable energy – namely Risen Solar Technology Sdn Bhd, followed by Syarikat Munzing Malaysia Sdn Bhd (RM55 million), and Syarikat SP Mega Mineral Sdn Bhd (RM29 million), among others.
The investments have created 4,417 job opportunities comprising various positions,” he said.
He said for next year, the state government – guided by the Economic Prosperity Thrust under the Kedah State Development Plan 2035 – targets several more well-known companies that would choose Kedah as their main investment destination.
“On development for the Kulim Technology Park Corporation industrial area, the state government has agreed to implement the expansion of KHTP Phase 4A and Phase 5 with an area of 695 acres (281.26ha) to meet demand from investors.”
Sanusi said 15,000 new job opportunities could be created for Kedahans from the expansion project. – Bernama, November 14, 2021
