Malaysia’s Northern Corridor accelerating investment
While Southern Malaysia’s Iskandar zone continues to impress with rising property prices and shiny development proposals, the other end of the country is also drawing its share of investments. The Northern Corridor Economic Region (NCER), which spans Perlis, Kedah, Seberang Perai on mainland Penang and northern Perak, has recorded RM3.3 billion (US$1.09 billion) in new investments for the first four months of 2011. That’s already looking healthy against 2010′s total of RM6.08 billion ($2.02 billion), and is a vast improvement on 2008-09′s RM1.4 billion ($464 million).
About 50% of this year’s investment is from domestic sources, in the key areas of logistics, commercial agriculture, manufacturing and tourism. The region also focuses on high tech industries.
The development region is overseen by the Northern Corridor Implementation Authority (NCIA), which recently showcased investment opportunities in the four key areas in Kuala Lumpur. If NCER lives up to expectations, it will lift the region’s share of Gross National Income (GNI) to RM13.3 billion ($4.41 billion) by 2020 and generate thousands of high skilled jobs.
- Biotech entrepreneurship flourishing in Malaysia
- ‘Wave’ of FDI flows into Malaysia in 2011
- The Economist: good policies creating a strong Penang
- Senai Hi-Tech Park will help transform Malaysia, says PM Najib
- Could Indonesia overtake Thailand as an auto manufacturer?
- Clark International Airport becoming an important Philippines hub
- AirAsia in share swap with Malaysia Airlines?
- Japanese M&A activity and FDI grows in Malaysia
- RIM may set up Blackberry procurement center in Penang
- Philippines’ special economic zones expect further growth