KUALA LUMPUR, Feb 23 (Bernama) -- The East Coast Railway Line (ECRL), Malaysia-China Kuantan Industrial Park, Kuantan Port Expansion, as well as the Tanjong Agas Oil and Gas Logistics Industrial Park projects, have made Pahang more optimistic towards efforts at wooing foreign and local investments into the state.
Malaysian Investment Development Authority (MIDA) Executive Director, Arham Abdul Rahman said the projects serve as an impetus in attracting more quality investments into Pahang, particularly in targeted sectors.
"Not only do these projects strengthen the state's comprehensive ecosystem, but also improve the production and logistical efficiency, reduce the cost of doing business and support greater flow of trade and investments into the state.
"The projects will further stimulate Pahang's economic growth and create high value jobs for its people. With so much room for new investments, expansion and diversification, we look forward to more companies taking advantage of the established ecosystem and facilities that Pahang has to offer," he said in a statement today.
As of September 2017, 698 manufacturing projects have been approved in Pahang with investments worth RM43.1 billion, of which 56 per cent or RM24 billion was from foreign sources and the balance, domestic.
These projects have created over 90,000 jobs, including petroleum products, basic metal, chemical and chemical products, as well as electronics and electrical products.
"Much of this success is the direct result of the close working relationship between the federal and state governments to develop and improve Pahang's standing in the country.
"Efforts, particularly at delivering high-impact projects and public infrastructure, is ongoing," Arham said.