19 hours ago
- Business
- New Straits Times
Kedah secures RM4.2 billion investments in first quarter, says Sanusi
ALOR STAR: Kedah recorded RM4.2 billion in investments in the first quarter of this year, creating more than 1,400 job opportunities, said Menteri Besar Datuk Seri Muhammad Sanusi Md Nor.
He said the numbers underscored the state's steady march towards realising its Greater Kedah vision, and showed it was firmly on course to harnessing its full potential and resources for sustainable growth.
"Investor confidence, both domestic and foreign, has kept Kedah among Malaysia's top investment destinations.
"For the manufacturing sector alone, Kedah booked RM3.9 billion in investments, ranking it third highest in the country," he said in his speech during an investiture at Istana Anak Bukit held in conjunction with sultan of Kedah Sultan Sallehuddin Sultan Badlishah's 83rd birthday celebration.
Sanusi expressed confidence that high-value manufacturing would weather global political and economic headwinds, spurred by the expansion of Kulim Hi-Tech Park Phases 4A and 5, the Kulim Industrial Corridor (KIC), as well as emerging industrial clusters, such as Kedah Rubber City (KRC) and the Kedah Science Technology Park (KSTP).
"The willingness of investors to choose Kedah is a manifestation of the stability, transparency and effectiveness of our policies. We are thankful for this trust," he said.
He said the establishment of The Greater Kedah Secretariat, in strategic collaboration with the State Economic Planning Division, also ensured that all strategic plans and initiatives were systematically monitored and aligned with clear key performance indicators.
Sanusi also highlighted the state's accelerating border corridor development, citing the launch of a new logistics hub at the Delapan Special Border Economic Zone (Delapan SBEZ) in Bukit Kayu Hitam.
"This facility alone is expected to divert an additional 240,000 TEUs of container traffic from southern Thailand, contributing up to RM843 million a year to Kedah's gross domestic product," he said.
To further boost cross-border trade, he said, a new road connecting the Bukit Kayu Hitam ICQS to Thailand's Sadao ICQS is expected to be completed by September.
"This strategic link is projected to help raise Malaysia–Thailand two-way trade from RM117 billion in 2023 to RM141 billion by 2027, with Kedah benefiting from the spillover.
"This translates to more job opportunities, increased revenue for the state and sustained fiscal health as demonstrated by our revenue collection in 2024 which surpassed projections," he added.
