KUALA LUMPUR: Perak government is stimulating economic and socio-economic growth in a sustainable manner via collaborations with the private and harnessing the state's natural resources.
Perbadanan Kemajuan Negeri Perak (PKNP) chief executive Datuk Redza Rafiq Abdul Razak said the state agency has established a roadmap with a clear direction anchored via a three-pronged strategic approach by implementing key strategic projects, facilitating private sector investment and empowering the community.
"Implementing key strategic projects will allow the state to develop high-impact and strategic initiatives, creating a conducive ecosystem for the private sector to thrive and prosper," he said in an interview with the New Straits Times.
Redza said the approach would also promote and facilitate potential investors to establish a presence in Perak, in addition to empowering the community by deploying demand-driven human capital and entrepreneurship development programmes.
"This is to enhance household income, increase the number of skilled workers and drive productivity," he added.
PKNP has developed the roadmap during a management retreat, providing a platform for it to set out a comprehensive approach to conceptualise its transformation plan.
This was undertaken through close collaboration between the chief executive officers of PKNP subsidiaries, heads of department and input from employees.
"The roadmap will subsequently create job opportunities and businesses, attract investment and private sector participation, encourage collaboration between the private sector and the academia and drive the economic growth in the state of Perak," said Redza.
He said the roadmap was rigorously reviewed by members of the PKNP's board before presenting it for approval.
It is premised on key segments including mitigation/recovery, consolidation and forward looking.
"PKNP will conduct a series of townhall sessions on the roadmap to ensure alignment towards this new direction for PKNP," he said.
Themed: "Accepting Reality and Moving Forward", Redza said the roadmap outlined PKNP's aspirations to solidify its organisational structure, uphold best practices in corporate governance and enhance business opportunities.
"The roadmap is aimed at tightening efficiencies, reviewing and implementing robust corporate governance policies, focusing on core businesses, consolidating key initiatives and companies as well as consolidating resources," he said.
Redza said PKNP had recognised the need to rethink and refresh the state's businesses to be resilient and future-ready to drive sustainable growth and enhance its socioeconomic contributions.
"We renewed our focus on unlocking value and tapping new opportunities within PKNP's core businesses, focusing on property development, green technology, ports and logistics, minerals, bandwidth, strategic initiatives and ensuring sustainability.
Redza said property development would consist of industrial development, housing and tourism and hotel management.
"PKNP aims to transform the state's attractiveness to investors by matching our assets with the global strategic needs of the private sector/investors, and building awareness about our ability to meet their needs.
"We also aim for Perak's existing and new developments to become highly conducive for private sector participation."
Its initial focus will be on the industrial segment, with the aim of attracting local and foreign investors.
PKNP said Lumut Port would serve as a catalyst to facilitate the growth of industrial and economic activities in Perak.
"PKNP is broadening its port-operating capabilities and unlocking investment potential via a new industrial area at Lumut Maritime Terminal 2 (LMT2), in addition to providing support services."
He said LMT2 was targeted for completion by early 2023, and set to be the first port in Perak to use the "clean cargo" concept.
"The 46.5-hectare port will only handle clean cargo such as cereals, beans and sugar. A new industrial area near LMT2 will be identified for the development of a free zone to attract more investments to Perak."
PKNP is also working with the state government to harness the economic potential of the mineral business to generate recurring income via mid-stream and downstream activities.
Redza said ensuring the strength and resilience of the organisation would be one of the biggest challenges amid the current economic backdrop.
"The key is to strengthen this element and equip our talent with the capabilities and mind-set to be able to thrive in the new normal of the post-pandemic world," he added.