Budget 2027 To Drive Technology, Industrial Development In Northern Region - NCIA

GEORGE TOWN, Oct 9 (Bernama) -- Budget 2027 is expected to strengthen the Northern Region’s position as a national hub for economic growth, technology and industrial development through an emphasis on high-value investments, the semiconductor industry, artificial intelligence (AI) and talent development.

Northern Corridor Implementation Authority (NCIA) chief executive Datuk Mohamad Haris Kader Sultan said the budget’s focus is aligned with the aspirations of the NCER Strategic Development Plan 2026–2030, which emphasise the development of high-value industries, human capital development, inclusive growth and enhanced competitiveness.

“Budget 2027 also gives significant recognition to key economic projects and ecosystems in the Northern Region,” he said in a statement today.

Mohamad Haris said that in Penang, the establishment of a RM100 million Strategic Investment Fund to support semiconductor and advanced manufacturing companies is expected to strengthen the state’s position as a new technology finance centre, while supporting NCER’s efforts to become a regional technology hub.

In Kedah, continued emphasis on Kulim Hi-Tech Park as a key destination for global semiconductor investments will strengthen the Northern Region’s high-tech ecosystem and support the creation of highly skilled job opportunities, he said.

In Perlis, infrastructure development in the Chuping Valley Industrial Area (CVIA) and the NCER Agribio Economic Zone as well as enhancements to the Perlis Inland Port’s capabilities are expected to reinforce the state’s role as an ASEAN agrotechnology and cross-border trade hub.

Meanwhile, the development of Lumut Maritime Industrial City (LuMIC) and the Automotive Hi-Tech Valley (AHTV) in Tanjung Malim, Perak, will strengthen the maritime, automotive and future mobility ecosystems, while creating investment opportunities and supporting the development of local vendors.

Mohamad Haris said NCER also welcomes the RM1.2 billion investment by Khazanah Nasional Bhd and the Retirement Fund Incorporated (KWAP) to enhance the capabilities of local semiconductor companies, the implementation of the SemiconStart programme, as well as various initiatives to develop the country’s start-ups and AI industry.

“These measures are expected to further strengthen NCER’s position as the pulse of the country’s semiconductor industry, encompassing the ecosystems in Penang and Kedah, while supporting the innovation and technology development agenda being driven by NCER through the NCER Technology Innovation Centre (NTIC),” he said.

He said the announcement of the development of Malaysia’s Sovereign AI Cloud, increased funding for research and development, and efforts to develop 200,000 AI professionals would also create opportunities for NCER to emerge as a regional hub for innovation and digital technology.

-- BERNAMA