ECERDC surpasses RM10 bil investment milestone, eyes RM15 bil by year-end
07 Aug 2024
The East Coast Economic Region Development Council (ECERDC) is poised to exceed its ambitious investment targets for the year, with officials projecting RM15 billion in realised investments by December 2024.
Speaking at Bernama TV’s talk show “The Nation: ECER – Closer Than You Think”, ECER development council chief operating officer Datuk Ragu Sampasivam said it had surpassed its initial RM10 billion target to date.
“We have key performance indicators [KPIs] every year, and two of our major KPIs are to commit and realise investments. We have surpassed our earlier target but we are not resting on our laurels.
“We are also coming up with plans and programmes that could help us reach our vision extending to 2030, under the ECER Master Plan (EMP) 3.0 and increase investment inflows into the East Coast,” he said.
Ragu said with these plans, the ECERDC is set to bolster its economic development and attract further investments, paving the way for sustained growth in the coming years.
Meanwhile, on the available specific investment opportunities within the ECER, he said the economic corridor is opening its doors to investors across multiple sectors, including industrial development, agriculture, infrastructure, tourism and sustainable development.
“Key industrial investments are centred around thematic parks, such as the Pekan Automotive Park, which hosts renowned brands like Mercedes. The Kerteh Biopolymer Park also stands out, focusing on downstream chemical products, benefitting from its strategic location near the Kerteh Integrated Petrochemical Complex operated by Petroliam Nasional Bhd.
“Tourism is another major focus, with new infrastructure like the East Coast Rail Line and the Central Spine Road, which is set to boost the region’s accessibility by 2026,” he added.
Ragu said the ECERDC is developing recreational vehicle (RV) parks to attract RV tourists, offering scenic routes from beaches to the Taman Negara National Park, which spans Kelantan, Terengganu, and Pahang.
Agriculture is another investment frontier, with the corridor positioning itself as the nation’s food basket. The recent Integrated Production and Resource (IPR) programmes also highlighted opportunities in food security and agricultural projects, he said.
“Additionally, the ECER is exploring carbon capture initiatives aimed at supporting hard-to-abate industries, emphasising sustainability,” he added.
Source: Bernama
