KUALA LUMPUR (May 16): The Malaysian Investment Development Authority (Mida) has established a dedicated team to promote the development of industrial parks, infrastructure, logistics hub and transit-oriented developments along the East Coast Rail Link (ECRL) project.
Mida in a statement yesterday said the team within the agency was established to facilitate, evaluate and review the implementation of the Economic Accelerator Projects (EAPs) along the ECRL corridor.
Going forward, the team will engage and strategise various action plans covering promotional activities and engagements with relevant stakeholders including domestic industries.
The establishment of a dedicated team followed the signing of the memorandum of understanding (MoU) between Mida and China Communications Construction Company Ltd (CCCC) on April 25, in Beijing, witnessed by Prime Minister Tun Dr Mahathir Mohamed and his Chinese counterpart, Li Keqiang.
According to Mida, the ECRL project, which will form the East-West rail transport network, is designed to stimulate commercial, logistic, import and export, as well as tourism development activities along the proposed alignment.
With the inflows of foreign direct investment and domestic investment as well as the potential growth of the industrial, commercial and tourism sectors, the railway will contribute towards bridging the development gap between the east and west coasts of Peninsular Malaysia.
These catalytic projects, it said, will create a wide spectrum of business and job opportunities including the development of industrial parks, logistics hub and transit-oriented development along the ECRL corridor.
“Mida together with CCCC will promote EAPs to maximise its success potential and invite local and international investors to invest in the projects.
“Both parties will also undertake cooperation and capacity building activities to encourage the industrial and business communities to organise or participate in dialogues, workshops, seminars and conferences, technical assistance to promote and facilitate capacity building and training, the sharing of best practices,” it said.