PUTRAJAYA (Star): Investors have pledged over RM9bil in projects in the first two months of this year that is expected to create some 20,000 jobs in the ECER, the East Coast Economic Corridor that comprises Johor, Pahang, Terengganu and Kelantan.
The investment value accounts for 12 projects, nine of them new, announced after a board meeting of the ECER development council chaired by Prime Minister Datuk Seri Najib Tun Razak here.
Council chief executive officer Datuk Jebasingam Issace John told reporters yesterday that the new projects included a RM4.2bil high-end hotel and resort enclave by Radiant Starfish Development Sdn Bhd and a RM1bil integrated resort and township development by Damansara Assets Sdn Bhd, both in Mersing, Johor.
Two other major projects are a RM1.3bil golf and resort project at Cherating in Pahang by Encorp Bhd and a RM1bil aquaculture joint-venture between Ocean Aquatic Marine (M) Sdn Bhd and Chinese company Zhanjiang Guolian Aquatic Products Co Ltd in Marang, Terengganu.
The 12 projects are expected to contribute RM6bil to the Gross National Income by 2020.
Jebasingam said he was confident the investors would honour their pledges as all the projects were scheduled to start this year.
“The ECER is primed for development, with over RM2bil spent to construct infrastructure to support private sector investment in the region,” he added.
With the RM9bil pledged, Jebasingam said the council would likely have to revise its RM10bil annual investment target for this year.
“We have almost achieved our (annual) target in just the first quarter. Maybe we will revise our target to RM15bil,” he said.