Malaysia eyes balanced, comprehensive economic growth

Malaysia has intensified efforts to attract investments to special economic zone development areas to bridge the gap between regions throughout the 13th Malaysia Plan (13MP) period, Bernama reported.

Minister of Finance II Datuk Seri Amir Hamzah Azizan said at the Dewan Rakyat (lower house) on Thursday that through collaboration with various parties and special incentive packages, Malaysia aims to attract investments in the electrical and electronics industries, natural resources, trade and cargo, and downstream rubber-based industries.

The location of Kedah and Perlis bordering Thailand will enhance the role of the states in the North of the peninsula as regional connectivity hubs and with the Perlis Inland Port, as well as easier movement of cargo and resources, Malaysia has the advantage of being a catalyst for development at the sub-regional level.

The operation of the East Coast Rail Line, which is expected to begin in the early period of the 13MP, opens up great opportunities for residents along this line to create new economic activities, especially based on agriculture, food production and the halal industry.

He said a detailed blueprint for the development of the Johor-Singapore Special Economic Zone (JS-SEZ) is being drawn up. The JS-SEZ has successfully attracted investment commitments totalling RM1.34 billion ($320 million), with an additional investment interest of RM78 million still in the negotiation phase, involving 70 companies from Singapore, China, Germany, the UK, the Netherlands as well as local investors.