Friday September 14, 2012
More projects to boost GNI
By ZUHRIN AZAM AHMAD
PUTRAJAYA: Seven more high-impact projects have been unveiled and are expected to boost the country's Gross National Income (GNI) by RM2.36bil and create 18,522 jobs.
Among the projects worth a total of RM5.6bil is Dialog-Vopak, a consortium comprising Dialog Group, the Johor government and Royal Vopak to develop the RM4.08bil Pengerang LNG Terminal under the Oil, Gas and Energy New Key Economic Area (NKEA).
Prime Minister Datuk Seri Najib Tun Razak said the facility would function as an LNG storage, loading and regasification terminal to import LNG for trading purposes and domestic use.
“The terminal will be the first independent LNG Trading Terminal in Asia allowing multiple LNG users to store and trade the product.
“This will spur the growth of the industry and help establish Malaysia as Asia's LNG trading hub,” he said during a progress update on the Economic Transformation Progra-mme here yesterday.
Najib said under the Business Services NKEA, the 1Progress consortium would invest RM947mil in a waste recovery alternative solution.
“Known as Waras, this waste collection, purchase, recycling and reuse system focuses on community engagement and education,” he said, adding that it would be based on the internationally-accredited Wongpanit system in Thailand.
Other projects include a joint venture between Ranbaxy Laboratories Limited, India's largest pharmaceutical firm, and local partners for a manufacturing plant and a contract manufacturing hub for medical devices and products.
In the search for foreign direct investment, Najib said Malaysia was being more selective with emphasis placed on GNI-positive investment that would facilitate the country's transition into a high-income economy.
“These investments fit into our focus areas, which include high-technology, green and alternative energy technologies and knowledge intensive industries,” he said, adding that the Government remained focused on creating business-friendly conditions.
So far, 28 projects have been announced under the NKEAs with a collective investment of RM26bil and the creation of 51,130 jobs by 2020.