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  • RM400mil To Flow Into Taiping
  • RM400mil to flow into Taiping

    BY DAVID TAN

    Redza: ‘Last year, the investments that went to Taiping were equivalent to about 48% of the investments for Penang.’

    NIBONG TEBAL: New investments worth RM400mil will flow into Taiping by the year-end from consumer products makers, said Northern Corridor Implementation Authority (NCIA) chief executive Datuk Redza Rafiq.

    This would bring the total investments in Taiping for this year to about RM1bil, he said.

    Redza told the press that NCIA had earlier in the year attracted RM575mil worth of investments from five big hotels, which included Novotel.

    He spoke after a talk on “NCIA Strategic Plan, ETP, Talent Supply & Northern Region Future State” at the Universiti Sains Malaysia engineering campus here yesterday.

    “We will be signing (agreements) before the end of this year to bring in some RM400mil investments from consumer (product) manufacturing companies. These are joint ventures between Asian and European corporations,” he added.

    Redza said Taiping started to attract investments in 2010.

    “Of the 20 deals we concluded with the private sector in 2010, five went to Taiping.

    “Last year, the investments that went to Taiping were equivalent to about 48% of the investments for Penang,” he said.

    Redza said the Greater Kamunting Study, jointly prepared by NCIA and the Perak government, would be ready in the second half of next year.

    “Some of the economic initiatives and delivery mechanisms recommended for the study are already in place and can be implemented soon,” he said.

    In the first half of 2013, the NCIA roped in RM7.2bil in investments for the northern region, according to Redza.

    “We expect the Greater Kamunting Study to spur the economic development of Perak,” he added.

    Among the internationally known companies that are already in Taiping are Toyo Tires, Japan’s leading tyre maker.

    NCIA is targeting RM10bil of investments for this year.

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