ECERDC attracted RM13 bln committed investments with 7,000 new job opportunities as of July 2022

ECERDC attracted RM13 bln committed investments with 7,000 new job opportunities as of July 2022

10 Aug 2022

The East Coast Economic Region Development Council (ECERDC) has attracted an estimated RM13 billion worth of committed investments generating 7,000 new job opportunities in the East Coast Economic Region (ECER) as of July 2022.

Deputy Minister in the Prime Minister’s Department (Economy) Datuk Eddin Syazlee Shith said various promotions and incentives have been planned to encourage cooperation with the local government to meet the annual target this year of RM14 billion worth of committed investments with a 10,000 job opportunities target.

“ECERDC has carried out investment promotion aggressively via investment missions to South Korea and Germany as well as conducting briefing sessions and webinars with potential investors.

“Apart from that, close collaboration via engagement sessions at state functions, the Malaysian Investment Development Board, Petronas, embassies and chambers of commerce were also conducted,” he said when winding up the debate on the East Coast Economic Region Development Council (Amendment) Bill 2022 at the Dewan Negara today.

Eddin Syazlee said the ECER Incentive Package and the Kelantan Special Tax Incentive Package have made ECER a destination for foreign and local investments.

The bill was passed with a majority vote.

Source: Bernama