The Northern Corridor Implementation Authority (NCIA), a government body in Malaysia, officially launched its business program at the Malaysia Pavilion at Expo 2020 Dubai, for Week 8 of the pavilion’s 26-week program…reports Asian Lite News
The program launched by the Ambassador of Malaysia to the UAE, His Excellency Mohammad Tarid Sufian, the week will be held from 21st until 27th November 2021 to showcase trade and investment opportunities in the NCER as well as showcasing key government initiatives, at the world Expo.
The Northern Corridor Economic Region (NCER) covers the four northern states of Peninsular Malaysia: Perlis, Kedah, Penang and Perak and has a prominent position within the Indonesia-Malaysia-Thailand Growth Triangle, making it an important gateway in Southeast Asia for investment in businesses and commercial expansion for various industries. It is an ideal investment and trade destination complete with a sustainable economic ecosystem to support investors looking to expand or establish their business and operations across southeast Asia.
HASRI HASAN, CHIEF OPERATING OFFICER, NCIA: “The NCER boasts excellent infrastructure such as road connectivity, airports, seaports and inland ports. The region also possesses an established ecosystem, with existing public-private partnerships and attractive fiscal incentives that continue to attract strategic investment partners, globally. NCER’s highest value investors come from the USA, China and Japan respectively.”
Between 2009 and 2020, the region has attracted 31.22 billion US dollars of committed investment and already realised 26.65 billion US dollars. It is also home to 28,074 entrepreneurs. This has resulted in the recording of 188,618 cumulative approved job creations and 161,929 cumulative realised job creation in the region.
For investors, two key hotspots are Kedah Rubber City (KRC) in Kedah and the Chuping Valley Industrial Area (CVIA) in Perlis. These areas offer an established and efficient supply chain, integrated logistics solutions, and numerous opportunities to local and foreign investors. These industrial parks are also poised to play pivotal roles in strengthening regional cooperation within the Indonesia-Malaysia-Thailand Growth Triangle.
Despite the onset of the pandemic and a drop in production of around 60%, NCER has retained its socioeconomic resilience and is currently focused on talent development in strategic, high-impact industries. This was achieved by implementing strategic high-impact projects, expanding the region’s job sectors, strengthening the overall talent ecosystem, and increasing economic activities to hasten the region’s socioeconomic recovery.
To ensure the socio-economic recovery of the NCER post-pandemic, NCIA has designed holistic and integrated people-centric human capital programmes. These programmes are designed to benefit those who lost their jobs, unemployed graduates, and businesses looking to expand their operations.
NCER, through its human capital programmes, also facilitates the development of local entrepreneurs to become international players. The business week at the Malaysia Pavilion features ten entrepreneurs from the region who will showcase their innovative and high-quality products which are export-ready.