International Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz.
KUALA LUMPUR: The Investment, Trade and Industry Ministry (Miti) expects 10,380 job opportunities to be created via an industrial cluster development in the central region comprising the Federal Territory of Kuala Lumpur, Selangor, Negri Sembilan and Melaka.
According to the ministry, the initiative will raise several macroeconomic measures, including the collective central region’s achievement in 2023, with a RM754.2bil contribution to gross domestic product (GDP) and an estimated annual increase of RM24.5bil from 2025 to 2030.
The central region’s 2023 gross estimated rise in average investment was RM7.57bil and this is expected to increase by RM12.5bil during the 2025 to 2030 period.
Prime Minister Datuk Seri Anwar Ibrahim had chaired the National Investment Council meeting recently which agreed to take an industrial cluster development approach in line with the objectives of the New Industrial Master Plan 2030 or NIMP 2030.
Meanwhile, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said in a statement that the strategic initiative aimed to strengthen Malaysia as an investment, manufacturing and service hub for several focus sectors.
The central region has a high concentration of electrical and electronics, aerospace, pharmaceutical as well as food technology sectors and the government is determined to develop a targeted industrial cluster, starting with the central region, based on its existing strengths.
“We do not need to create a corridor authority or add new financial burdens on the federal government, thus saving administrative costs and fiscal allocations.
“Additionally, we will also be able to leverage existing incentives,” he said.
Tengku Zafrul is also confident that the industrial cluster approach will attract additional investments, create new job opportunities, improve the local economy, and promote fair and inclusive growth through close coordination between Miti, ministries and agencies as well as state governments.
The high-performance industrial cluster development model has been implemented successfully in several developed countries.
Miti will ensure whole-of-nation efforts and use best global practices when implementing the initiative, Tengku Zafrul said. — Bernama
