PUTRAJAYA NOV.16: The Northern Corridor Implementation Authority’s (NCIA) strategic role and proactive action plans towards addressing post pandemic recovery outlined in the Northern Corridor Economic Region (NCER) Strategic Development Plan (SDP) 2021-2025 has borne fruit with significant investments pouring into the region worth RM21.41 billion.
Prime Minister Datuk Seri Ismail Sabri Yaakob said, the investments is 34 per cent increase from the initial target of RM16 billion.
Ismail said, the manufacturing remains a key sector for NCER, contributing 32 per cent of the region’s Gross Domestic Product (GDP) with approved investments in the sector increasing by 304 per cent from RM11.8 billion in the second half of 2020 to RM47.91 billion in the first half of 2021, signalling a long-term recovery.
“NCER’s external trade increased 13.1 per cent year-on-year to record RM191.7 billion in the third quarter of 2021 with a total share of 35.1 per cent from Malaysia’s overall external trade value, contributed by the recovery in global demand.
“The three-pronged approach of NCER, which is empowering vulnerable groups via rakyat-centric human capital programmes, catalysing balanced regional economic growth via strategic infrastructure, and driving private investments to address the regional imbalances will enable NCER to reach a RM300 billion economy, RM10, 508 of mean household income, 161,197 of cumulative job creation and a value of RM146.5 billion of private investments by 2025,” Ismail said.
The Prime Minister said that in a statement after he chaired the 27th NCIA Council Meeting today.
According to the Prime Minister, investments in the region will create 23,506 jobs in NCER. In line with the Keluarga Malaysia concept, over 65,000 people including women, youth and the Orang Asli community have benefitted from NCIA’s rakyat-centric human capital programmes to overcome challenges of the pandemic.
“More than 12,000 hardcore poor and poor households listed under the eKasih and iDamak database have benefitted from the Kasih Ibu NCER programme in Kedah, Perak and Perlis through assistance in purchase of basic necessities and healthcare, to ease the impact of the rising cost of living.
“To date, almost 600 recipients have been integrated into the empowerNCER and [email protected] programmes and they are now generating income of their own. Following the success of this initiative, more than 5,000 participants will be integrated into these programmes in an effort to achieve the 12MP Zero Hardcore Poor target by 2025,” Ismail said.
The statement added, the empowerNCER-Skills and Entrepreneurship and the [email protected] programmes will create nearly 10,000 micro-entrepreneurs and skilled workers among the B40 group. Currently, more than 900 participants have moved out of poverty, of which 300 participants have transitioned upwards into the M40 and T20 categories.
The Prime Minister emphasized, more than 5,000 of these local economic movers have not only managed to collectively generate approximately RM45 million incomes over six (6) months, but also created more than 1,200 jobs for the local communities.
“The entrepreneurNCER programme, which provided a 50 per cent top-up on the bank loan interest, has enabled cash-strapped Micro-enterprises and SMEs to sustain and grow their businesses.
“This programme has also assisted more than 5,200 microenterprises and SMEs whereby RM85.9 million in financing has been approved by Maybank and AgroBank, yielding Zero Non-Performing Loans (NPL) to date,” he said.-Malaysia World News