ECER Set To Woo RM112 Billion Investments By 2020, Says Abdullah

December 02, 2008 18:25 PM

ECER Set To Woo RM112 Billion Investments By 2020, Says Abdullah

KERTIH, Dec 2 (Bernama) -- The East Coast Economic Region (ECER) is set to woo RM112 billion worth of investments in the next 12 years between 2008 and 2020, Prime Minister Datuk Seri Abdullah Ahmad Badawi said Tuesday.

He said the bulk of the investments or 47 per cent of the funds would come from the private sectors from within and outside the country.

Abdullah said the substantive investments would have long-term impact, particularly on the people in this region and Malaysians in general.

"So far, the encouraging progress shown by the ECER Development Council is very satisfying," he said when opening the Plastics Cluster Industrial Park in this oil town here.

He said many projects have been started since the park was launched in 2007.

Of the 105 projects in the drawing board, 77 of them will be implemented by June next year, he said.

The prime minister said he will visit the other economic corridors to personally gauge the progress achieved so far.

"Besides the basic infrastructures needed to attract investors, high-impact agriculture, manufacturing and education projects have already been implemented," said Abdullah who initiated the economic corridor development nationwide to stimulate economic growth and create employment for the people.

To jump-start the economic-centric projects, the government has allocated a a staggering RM2.6 billion approved under the Mid-Term Review of the Ninth Malaysia Plan, he said, adding that the projects will be continued under the 10th Malaysia Plan.

Abdullah said the ECER was committed to implement social development programmes to wipe out abject poverty among the rural folk.

For instance, the 25,000ha agropolitant project involving nearly 9,000 hardcore poor families has been started in line with the government's aim to wipe out abject poverty by 2010.

"The ECER's importance to the east coast states residents is indeed very clear. As a people-friendly socio-economic programme, the ECER's cherished goal is to transform Pahang, Kelantan and Terengganu into a developed region by 2020," he added.

-- BERNAMA