TERENGGANU RECORDS RM4.3 BLN COMMITTED INVESTMENT AS OF SEPTEMBER -- MB

KUALA TERENGGANU, Oct 27 (Bernama) -- Terengganu recorded a total committed investment of RM4.3 billion as of September this year, driven by the renewable energy (RE) sector. 

Menteri Besar Datuk Seri Dr Ahmad Samsuri Mokhtar said the achievement proved investors’ confidence in Terengganu’s competitiveness as a major investment destination in the East Coast Economic Region (ECER). 

He said the investments are expected to create 1,981 job opportunities, thus strengthening Terengganu’s position as a state of choice for investors across various sectors.

“A total of 74 per cent of the total investments is contributed by the manufacturing sector, followed by tourism (12 per cent); agriculture (eight per cent) and services (six per cent), reflecting the state’s diverse and balanced investment ecosystem,” he said in a statement issued by the East Coast Economic Regional Development Council (ECERDC) today. 

He said the main driver of the committed investments is the RM2.9 billion hybrid solar project in Tasik Kenyir, a joint venture between TNB Genco Sdn Bhd and Terengganu Inc, launched on July 12.

“Realised investments have reached RM1.6 billion, proving the continuous development in the state's industrial and tourism sectors.

“Among the major projects is the development of the Kertih Terengganu Industrial Park by Retro Court Sdn Bhd, which will become a strategic hub for energy and downstream industries with incentives,” he said.

He said this encouraging performance demonstrates investors' confidence in the state of Terengganu and its commitment to developing a resilient and forward-looking economy. 

“From RE and manufacturing to tourism and agriculture, we are building a diverse economic foundation to ensure sustainable growth and long-term benefits for the people,” he said.

Meanwhile, ECERDC chief executive officer Datuk Baidzawi Che Mat said the agency is also strengthening infrastructure development and key tourism assets to further increase the region’s appeal to investors and tourists.

He said this includes the Sultan Mahmud Airport-KTCC (KTAR2) Executive Drive, which will provide direct travel between the airport and the city centre, and the KTCC Promenade Phase 1, which will open up space for new commercial and recreational development in Muara Utara and Muara Selatan, Kuala Terengganu.

-- BERNAMA