Business as usual for Malaysia’s economic corridors, says Guan Eng

KUALA LUMPUR: The authorities handling Malaysia’s five economic corridors will continue to function as usual, said finance minister Lim Guan Eng today.

Speaking at the Dewan Rakyat, Lim explained that the corridor authorities will continue its mandate to attract investments by pursuing completion of the underlined infrastructure projects, as well as to promote trade missions overseas.

“Until June 30, 2018, the corridors have attracted committed investments worth RM788.61 billion, with realised investments totalling RM447.35 billion,” he said, while explaining that the figure may overlap with investments brought in by the federal government via Malaysian Investment Development Authority (MIDA).

In terms of job opportunities, Lim said the corridors have created some 1.87 million jobs since inception.

In Peninsular Malaysia, the authorities comprise Iskandar Regional Development Authority (IRDA) for Iskandar Malaysia in Southern Johor; North Corridor Implementation Authority (NCIA) for the North Corridor Economic Region (NCER), and the East Coast Economic Region (ECER) Development Council (ECERDC).

In East Malaysia, the corridors comprise Sabah Development Corridor (SDC) managed by Sabah Economic Development and Investment Authority (SEDIA); and the Sarawak Corridor of Renewable Energy (SCORE) under the Regional Corridor Development Authority (RECODA).

By breakdown, Iskandar Malaysia has obtained the biggest value of realised investments totalling RM154 billion, followed by NCER (RM90 billion), ECER (RM87 billion), SCORE (RM78 billion) and SDC (RM68.7 billion).

Source: The EDGE Markets