NCER Explores EV, Automotive Investments As Part Of RM470 Bln Target
PUTRAJAYA, Sept 15 (Bernama) -- The Northern Corridor Economic Region (NCER) is exploring opportunities in the electric vehicle (EV) and automotive sectors as part of efforts to diversify investments beyond its strong electrical and electronics (E&E) and semiconductor base.
Northern Corridor Implementation Authority chief executive Datuk Mohamad Haris Kader Sultan said it had yet to determine the specific portion of its RM470 billion cumulative investment target by 2030 that could come from the automotive sector, but several potential investments were currently being assessed.
“Among them are high-technology vehicle projects in Kulim, Kedah, with potential investors in the EV sector undergoing due diligence,” he said, adding that NCER is also working with the Malaysian Investment Development Authority and the Ministry of Investment, Trade and Industry to assess the potential investments.
Mohamad Haris said so far, two investors have been identified in the EV battery segment, while three are being considered in the automobile segment.
He also said the move comes as E&E and semiconductor activities continue to form the mainstay of investments in the NCER, particularly in Penang, where about 95 per cent of investments are expected to be concentrated in the sector.
Earlier, Economy Minister Akmal Nasrullah Mohd Nasir launched the NCER 2026-2030 Strategic Development Plan here, which aims to realise a cumulative investment of RM470 billion by 2030 with 70 per cent of it contributed by key sectors such as electrical and electronics, automotive, high-value tourism and modern agriculture.
The target is RM126.2 billion higher than the RM343.8 billion under the previous NCER development plan.
Meanwhile, Mohamad Haris said the focus on E&E and semiconductors would not exclude opportunities in other sectors, with efforts also being made to spread growth beyond existing investment centres.
In Kedah, he said Kulim Hi-Tech Park remains among the key areas for investments, while Perlis has Chuping Valley, with semiconductor activities continuing to be a major attraction.
The diversification of investments is also aimed at ensuring that economic growth reaches less-developed areas across the four NCER states -- Perlis, Kedah, Penang and Perak.
He said the programmes and projects would be implemented in these areas to create employment opportunities, including by ensuring that areas developed with allocations from the Economy Ministry are filled with approved investments.
“We are confident of realising our RM470 billion cumulative investment target by 2030, based on approved investments that are expected to be translated into actual projects within two to three years, or up to five years in some cases.
“The target is higher than the previous plan but the projection was supported by investment trends, and our targets for 2020 and 2025 had been exceeded,” he said, adding that the investment target is also expected to contribute to NCER’s goal of raising median household income to RM7,500 by 2030.
Mohamad Haris also said NCER’s approach was not limited to increasing the number of jobs, but also focused on attracting higher-value industries that could generate higher productivity and value-added activities.
About 45 per cent of the jobs targeted are expected to be high-skilled positions.
To meet the demand for skilled workers, NCER is working with local universities, polytechnics, TVET institutions and industry players to identify specific disciplines and skills required by investors.
-- BERNAMA