Kulim Hi-Tech Park secured RM20 billion investment in first five months of 2022

Kulim Hi-Tech Park secured RM20 billion investment in first five months of 2022

23 May 2022

The Kulim Hi-Tech Park (KHTP) has secured RM20 billion confirmed investments in the first five months of this year, well surpassing the RM10 billion annual investments target for the whole state of Kedah in 2022.

Menteri Besar Datuk Seri Muhammad Sanusi Md Nor said the investments had been confirmed through the Malaysian Industrial Development Authority (Mida).

“For this year, I was informed by KHTP that it has secured about RM20 billion investments which had been confirmed through Mida.

“I was informed that the investments come from four or five investors but I am not at the liberty to divulge the details for now,” Sanusi told reporters after closing the Kedah Industrial Skills and Management Development Centre (Kismec) annual general meeting at the Kismec Kulim temporary campus in KHTP here today.

Sanusi described the RM20 billion in investments as a promising sign for the state to attract more investments for this year.

“It has surpassed our annual RM10 billion in investments for the whole state of Kedah and we hope more investments will be confirmed for the remaining period of this year,” he said.https://431b1da4d02cf62567cb16dfa71a2c20.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html

On Tuesday, Senior International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali announced that United States-based Ferrotec Corporation was to invest more than RM500 million on its first manufacturing facility in KHTP.

Azmin was reported as saying that the construction of the 800,000 sq ft manufacturing plant, the company’s first manufacturing plant in Southeast Asia, was expected to begin in the next few weeks.

He had said the investment would create between 250 and 500 high-skilled jobs for Malaysians, besides assisting small and medium enterprises (SMEs) in this country to build the supply chain and ecosystem in the semiconductor industry.

Ferrotec is a global supplier of materials, components and precision systems, and a worldwide leader in quartz material fabrication for the semiconductor industry.

Azmin made the announcement after his meeting with Ferrotec chief executive officer Eiji Miyanaga in San Francisco, California, as part of his trade visit to the US.

Source: NST