ECERDC has realised RM2.4b investments in Terengganu as of March 2024

ECERDC has realised RM2.4b investments in Terengganu as of March 2024

24 Mar 2024

The East Coast Economic Region Development Council (ECERDC) has successfully realised investments worth RM2.4 billion in Terengganu as of March 2024.

Terengganu Menteri Besar Datuk Seri Ahmad Samsuri Mokhtar said the investments included in the fields of iron and steel manufacturing, napier cultivation, pulp mills and food containers which created 5,000 job opportunities for the locals.

He said the value of the investments represented 57 per cent of the RM4.2 billion investment target set by ECERDC for the state of Terengganu this year.

“ECERDC also managed to attract new committed investments worth RM1.02 billion in the oil; gas and petrochemical sectors (RM940 million); services (RM50 million); tourism (RM20 million) and manufacturing (RM10 million) as of March.

“A total of 65 per cent involved foreign direct investments (FDIs) with the highest investment received from Japan which was RM660 million,“ he said in a statement after chairing a meeting of the Implementation and Coordination Committee (ICC) of the East Coast Economic Region (ECER) here today.

Also present at the ICC meeting were Terengganu state secretary Datuk Seri Tengku Farok Hussin Tengku Abdul Jalil; secretary of the development division of the Prime Minister’s Department, Datuk Jazmanie Shafawi; and ECERDC chief executive officer Datuk Baidzawi Che Mat.

Baidzawi said the ICC meeting also discussed the development of the recreational vehicle (RV) industry in an effort to make Malaysia an RC hub in Asia Pacific by 2025.

According to him, several locations have been identified to be developed as RV parks in Terengganu.

“ECERDC has also signed a memorandum of understanding (MoU) with a leading power generation company from China.

“For the Kuala Terengganu airport road (KTAR) project, progress has reached 37 per cent as of February 2024,“ he said.

Meanwhile, in a separate ceremony, Baidzawi also completed the handing over of Surau Al-Ikhwan Teluk Ketapang to the Department of Religious Affairs of Terengganu and the Teluk Ketapang kindergarten to the Department of Community Development of Terengganu.

He said the two infrastructures worth almost RM1 million under the KTAR project were able to benefit about 2,000 residents around Kampung Teluk Ketapang and nearby areas.

“The surau and kindergarten are part of the KTAR project implemented at a cost of RM28 million by the federal government through the ECERDC.

Source: Bernama