Government Allocates RM850 Million For Corridor And Regional Development

18 October 2010 , By Bernama

The government is allocating RM850 million for infrastructure support to accelerate corridor and regional development, focusing on several clusters with specialisation and geographical advantages.

Prime Minister Datuk Seri Najib Tun Razak said that efforts to develop the corridors will focus on joint venture projects between local and foreign investors as well as high impact industries with competitive advantage.

For Iskandar Malaysia, a sum of RM339 million is allocated, including for construction of highways, development of housing areas, and providing and improving public transportation services.

"The amount of investment committed by the private sector as at June 2010 was RM62 billion, surpassing the targeted RM47 billion," he said when tabling Budget 2011 in Parliament on Friday.

Najib, who is also the Finance Minister, said that total investment up to June 2010 was RM25 billion.

The Newcastle University Medicine Malaysia and Chelsea Factory Outlet are expected to be completed in 2011, and Legoland and Marlborough College in 2012.

The Northern Corridor Economic Region (NCER) is allocated RM133 million, while includes the development of an agricultural products processing centre, tourism infrastructure and a biotechnology incubator centre.

The East Coast Economic Region (ECER) is allocated RM178 million for projects, including industrial parks, water treatment plants, development of tourist areas and redevelopment of former Pahang Tenggara Development Authority and Jengka Region Development Authority areas.

For the Sarawak Corridor of Renewable Energy (SCORE), a total of RM93 million is allocated for facilities, including telecommunications, water supplies, airport and roads as well as halal food industrial parks.

For the Sabah Development Corridor, a sum of RM110 million is allocated for, among others, for palm oil industry cluster projects, agro industrial precinct and integrated farming centre.