KUALA LUMPUR: Pahang has attracted a total of RM64.9 billion in domestic and foreign investments linked to the East Coast Economic Region as at August this year.
The investment boost will also create more than 55,933 jobs and over 3,538 entrepreneurial opportunities.
The East Coast Economic Region Development Council (ECERDC) in a statement today said socio-economic transformation projects and programmes implemented in Pahang by the federal government have continued to drive private investments into the state, spurring the creation of more jobs and entrepreneurial opportunities to uplift the livelihood and well-being of the rakyat.
In addition, the strong private investment growth in Pahang was mainly attributable to the manufacturing sector, which contributed 49.1 per cent of the total investments followed by the tourism sector at 23.2 per cent, as well as the oil and gas sector at 14.2 per cent.
“Pahang’s robust investment growth has been a key driver to the strong economic performance of the East Coast Economic Region (ECER).
“In fact, the international and domestic investors in Pahang have played a pivotal role in boosting the local economy through the creation of jobs for the rakyat as well as business opportunities for the local community,” ECERDC chief executive officer Datuk Seri Jebasingam Issace John said.
ECERDC said logistics and trade facilitation sectors are expected to play an increasingly vital role in the overall economy across Pahang and ECER, especially once the expansion of Kuantan Port into a deep water port is completed by 2018.
To date, the project is more than 80 per cent completed with the outer infrastructure at the port like road access, interchange and flyover on track for completion.
Positioned as the “Gateway to Asia Pacific”, Kuantan Port is set to offer investors in the ECER Special Economic Zone and Malaysia-China Kuantan Industrial Park (MCKIP) one of the fastest routes to major ports in China and other Asia Pacific markets.
The 600km East Coast Rail Link (ECRL) project is another game-changer that will transform ECER’s economic landscape and generate immense economic benefits to the region including Pahang.
The construction of the ECRL will spur growth of cities and urban centres across all key economic and industrial areas in Pahang.
These areas include Bentong, Temerloh, Mentakab, Gambang, Maran and Kuantan, which will be directly connected to Kuantan Port and Port Klang in the West Coast.
Local population will stand to benefit as these developments will significantly boost trade and businesses, generating greater jobs and entrepreneurial opportunities including in the rural areas.
Meanwhile, to further spur investments into the region, infrastructure works in the Pahang Technology Park in Gambang have been completed, and this is expected to facilitate greater investments especially in the high-tech related industries in the state, solidifying the area’s position as ECER’s ICT Centre.
“Public-private partnership initiatives have also been a key catalyst to the region’s successful socio-economic transformation. In this regard, the ECERDC has partnered with investors on various initiatives such as job fairs and even upskilling programmes for the local talents,” said Jebasingam.
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