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BUSINESS

NCIA to showcase Northern Corridor Economic Region at Expo 2020 Dubai

21/11/2021 11:50 AM

DUBAI, Nov 21 -- The Northern Corridor Implementation Authority (NCIA) will lead a mission to the World Expo 2020 in Dubai, United Arab Emirates (UAE) to showcase trade and investment opportunities in the Northern Corridor Economic Region (NCER).

NCIA chief operating officer and head of delegation Hasri Hasan will lead the Nov 21-27, 2021 mission that will also comprise of about 60 delegates from NCER states and 10 Malaysian companies.

Hasri said NCIA’s main objectives are to attract more foreign direct investment (FDI) to NCER, marketing NCER-made products and services to the global market, promote NCER high-impact projects and programmes and connecting entrepreneurs with potential partners.

“NCER’s value proposition will be enhanced through its existing ecosystem that includes attractive customised incentives for priority sectors, talent ecosystem development via collaborations with academia and industries, vendor localisation programmes, strategically located projects and industrial parks, as well as to prioritise areas that need digital infrastructure improvements within the NCER.

“We plan to showcase trade and investment opportunities in NCER as the preferred investment destination in Malaysia that is aligned with the NCER Strategic Development Plan 2021-2025 (SDP), which includes the states of Perlis, Kedah, Perak and Penang,” he told Bernama.

Hasri said the World Expo will also serve as a platform for Malaysian companies in the NCER to promote their products and services to the world.

“The 10 Malaysian companies from manufacturing, biotech, food and beverages (F&B), and services sectors are aiming to secure business opportunities in Dubai,” he said.

NCIA’s SDP 2021-2025 post-pandemic recovery plan for the NCER has borne fruit with significant investments totalling RM21.41 billion for 2021, a 34 per cent increase from what was targeted at the beginning of the year.

Hasri said these investments are expected to create over 20,000 jobs in NCER, as recently announced by Prime Minister Datuk Seri Ismail Sabri Yaakob.

Spearheaded by NCIA, Hasri said several memoranda of understanding (MoU) worth over RM25 million is expected to be inked between the delegation of Malaysian small and medium enterprises (SMEs) and Middle East-based businesses during the expo. 

He said NCIA is expecting a potential of RM2.5 billion worth of trade and investments coming into the NCER region through its Expo 2020 Dubai engagements.

“We are looking at several MoUs that will enable Malaysian companies, especially from the NCER, to export their products to the Middle East,” he said.

Hasri said with continuous support from both state and federal stakeholders, the NCER is on the correct trajectory to achieve regional balance and inclusion as outlined in the 12th Malaysia Plan (12MP).

Malaysia’s Ambassador to the UAE Mohd Tarid Sufian will officiate Week 8 @Expo 2020 Dubai at the Malaysia Pavilion tomorrow (Nov 22).

Malaysia’s overall participation in the World Expo is led by the Ministry of Science, Technology and Innovation (MOSTI) with the Malaysian Green Technology and Climate Change Corporation (MGTC) as the implementing agency.

Malaysia is one of the 192 countries and organisations participating in Expo 2020 Dubai.

Themed “Connecting Minds, Creating the Future”, the expo runs from Oct 1, 2021 to March 31, 2022.

-- BERNAMA


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