RM31.38bil invested in Penang in six months
05 Sep 2024
Investments created more than 6,600 jobs within that period
A TOTAL of RM31.38bil has been invested in Penang through the Northern Corridor Implementation Authority (NCIA) with cooperation of the Malaysian Investment Development Board (Mida).
NCIA chief executive Mohamad Haris Kader Sultan said the sum was achieved within the first six months of this year.
He said it was encouraging and evidence of investors’ confidence in the long-term prospects offered by the Northern Corridor Economic Region (NCER) and Penang.
“Investments included focus sectors in the NCER Strategic Development Plan such as the high-value manufacturing sector, advanced services and modern agriculture, which in turn created more than 6,600 job opportunities within that period.
“This good performance will be a catalyst for NCER to continue to drive investment and business ecosystem development for the second half of this year by taking advantage of NCER’s regional advantages, particularly in the electrical and electronic (E&E) and semiconductor sectors,” he said in a statement.
Mohamad Haris said the NCER Technology Innovation Centre (NTIC) building in Bayan Lepas had been completed and would be operational soon.
He said it would directly boost innovation, research and development (R&D) activities as well as increase the value chain for small and medium enterprises (SMEs) to further strengthen Penang’s position as a technology and innovation hub in the region.
“During the first half of 2024, 16 Penang SME companies received matching grants to improve the value chain under the NTIC programme through the Centre of Excellence (CoE) and Technology and Innovation (T&I) initiatives.
“A total of 144 local workers have been approved to undergo technical skills training under the Advanced Technology Meister Programme (ATMP) initiative,” he added.
The NTIC programme under NCER’s Technology Valley initiative focuses on activities related to research, product development and specialised design.
The programme also acts as a platform for large local companies, multinational companies, start-ups, individual technocrats and young entrepreneurs to carry out technological and high value-added activities at NCER and subsequently generate their own Intellectual Property.
Source: The Star
