Page 376 - Westport Guide To Malaysia

368 MALAYSIA’S ECONOMIC REGIONS
Opportunities
in every Area
The Malaysian Government
has prioritized balanced regional development and seeks to accelerate economic growth and elevate income levels in designated geographic areas.
It has therefore established five regional economic corridors. As well as helping to facilitate economic and social development right across the country, these corridors
also offer powerful incentives and excellent business opportunities to both local and foreign
Kuala Terengganu City Centre (KTCC) Drawbridge is one of many tourism attractions created by the East Coast Economic Region Development Council which brings spill over effect to the people in the East Coast.
investors.
The five corridors are:
Iskandar Malaysia in Johor; the Northern Corridor Economic Region (NCER) covering the states of
Kedah, Pulau Pinang and Perlis as well as Perak’s four northern districts; the East Coast Economic Region (ECER) covering the states
of Kelantan, Pahang and Terengganu as well as Johor’s northern Mersing district;
the Sarawak Corridor for Renewable Energy (SCORE); and the Sabah Development Corridor (SDC).
Each corridor consists of high-density clusters with sectoral and geographical advantages which will enable businesses to benefit from common resources and
shared infrastructure, facilitate labour market matching, and contribute to knowledge sharing and business synergy.
The Northern Corridor Economic Region’s Chuping Valley Industrial Area is a premium thematic industrial park with excellent infrastructure and a comprehensive business ecosystem.
Iskandar Malaysia has a total cumulative recorded investment of RM341.4 billion since 2006, with the growing services sector bolstering manufacturing-based economy.
The mighty Bakun Hydropower Plant, at 2,400 MW the largest in Southeast Asia, is the primary driving force for the Sarawak Corridor of Renewable Energy.
The Sabah Agro-Industrial Precinct in Kimanis, Papar,
is an agro-processing hub to create and develop agro- based products, neutraceuticals and biopharmaceuticals.