Melaka To Focus On Eight Key Sectors To Draw Foreign Investments

MELAKA (Malaysia), March 5 (Bernama) -- The Melaka state government will focus on eight key sectors in the bid to attract more foreign investments to the state. Chief Minister Idris Haron told the State Assembly Thursday the sectors are automotive, electrical and electronics, green technology, halal products, biotechnology, pharmaceuticals, oil and gas and aerospace. He said the state last year succeeded in attracting total investments of US$1.2 billion (RM4.4 billion) with US$492.33 million (RM1.8 billion) coming from overseas. "We hope this year to achieve an overall investment target of US$1.36 billion (RM5 billion) and higher foreign investments from 2014. (US$1 = RM3.65) "For a start this year, we are on track to receive foreign investment of RM1.2 billion through the involvement of a company China, Xinyi Glass, which will open a production plant at Lipat Kajang, Jasin," Idris added. He said this in response to an oral question from Norpipah Abdol (BN-Rembia) who wanted to know the amount in foreign investment received by Melaka last year and the steps towards improvement in 2015. Idris said last year, the transport sector posted the highest investment at RM3.3 billion, followed by electrical and electronics (RM882.6 million) and printing (RM157.2 million). Answering a supplementary question by Norpipah on the incentives being offered, he said the state government had succeeded in attracting a lot of investments only through the investment incentives of the Federal government. "The state government does not provide specific incentives to investors as they believe investing in Melaka gives them good returns. "There are some investors such as Xinyi Glass, who are willing to purchase land for their factories at higher market prices," Idris added. -- BERNAMA