Dewan Rakyat: Investments Committed To Five Economic Corridors Totalled RM248.6 Billion

15 July 2010 , By Bernama

Total investments committed to the five economic corridors up to May totalled RM248.06 billion, Deputy Minister in the Prime Minister's Department Datuk S.K. Devamany told the Dewan Rakyat Monday.

The corridors are Iskandar Malaysia (IM), Northern Corridor Economic Region (NCER), East Coast Economic Region (ECER), Sabah Development Corridor (SDC) and Sarawak Corridor of Renewable Energy (SCORE).

Iskandar Malaysia received RM60.18 billion, NCER (RM39.94 billion), ECER (RM28.32 billion), SDC (RM32.01 billion) and SCORE (RM87.61 billion), he said when replying to Matulidi Jusoh (BN-Dungun) during question time.

Matulidi wanted to know total investments committed to the five economic corridors since their launch in 2006 and the status of development project implementation at the corridors.

Devamany said the investments were from both local and foreign investors.

He said foreign investments are from Middle East countries like the United Arab Emirates, Kuwait, Lebanon and Saudi Arabia while investments from Europe came from Spain, France, United Kingdom, Netherlands, Germany and Denmark.

Asian investors are Japan, China, India, the Philippines and Singapore besides Australia and the United States, he said.

Devamany said the bulk of foreign investments centred on sectors that entailed heavy investments such as energy supply, paper and pulp industry, heavy industries like steel, metal, zinc and aluminium apart from port operations, real estate, housing and hotel industry.

He said 197 projects at the corridors are in various implementation stage.

All 18 projects at Iskandar Malaysia have been implemented while 27 of 30 projects at NCER are at 90 per cent implementation stage and at ECER, 80 of 86 projects are at 93 per cent implementation level, he said.

At SDC, all 54 projects have been implemented, while nine projects at SCORE have started, he said.

Devamany said the economic corridors have a socio-economic impact on the people living in the areas.