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Friday, 16 June 2017

(The Edge Financial Daily) Terengganu draws RM29.7b in domestic, foreign investments

KUALA LUMPUR: Terengganu has secured RM29.7 billion in domestic and foreign investments between 2007 and May 2017, which in turn had created over 30,800 jobs, said the East Coast Economic Region Development Council (ECERDC).

In a statement here yesterday, the council said the state’s strong investment performance was derived from the manufacturing sector, which contributed 51% of the total investment, followed by the bioeconomy sector at 22.6%.

It said up until May this year, 72 projects worth RM3.9 billion, which were developed by bumiputera companies, had received incentives and support from ECERDC and/or the federal government’s Bumiputera Agenda Steering Unit.

ECERDC chief executive officer Datuk Seri Jebasingam Issace John said in line with the National Transformation Agenda, the council would continue to pursue a development agenda which was inclusive and sustainable, including the economic empowerment of the bumiputera community.

“We are encouraged by the achievements of the local entrepreneurs and they have been one of the core enablers of the socio-economic transformation in Terengganu,” he said.

ECERDC said the Kuala Terengganu City Centre (KTCC) transformation was taking shape and construction works for the drawbridge linking KTCC’s Muara Selatan and Muara Utara were currently 83% completed.

“Development in Terengganu is also set to intensify with the construction of the 600km InfraRakyat East Coast Rail Line project. — Bernama