By Ahmad Mukhsein Mukhtar – March 29, 2024 @ 4:10pm
ALOR STAR: The Kedah chapter of the Malay Chambers of Commerce (DPMM) has welcomed Prime Minister Datuk Seri Anwar Ibrahim’s pledge to develop the Northern Corridor Economic Region (NCER) into a world-class economic and technological hub.
Its president Datuk Mohd Zayad Md Ismail lauded the Strategic Development Plan of NCER 2021-2025 for its success in boosting investments and expanding the socio-economic development of the region.
Zayad expressed confidence that the northern corridor region is ready to embrace a larger influx of investments, especially in terms of new technology and innovation.
“NCER has proven its resilience as an economically competitive region and an investment destination amid the economic upheaval in the pandemic and world conflicts, which have significantly altered the global socio-economic landscape.
“Kedah DPMM recognises the effectiveness of NCER programmes, which have positively impacted household economic recovery and business communities in the northern corridor region,” he said in a statement today.
Zayad said programmes, such as e-Entrepreneurship Workshops (eEW), PMKS grants, digital literacy and e-commerce initiatives have successfully bridged the economic gap between urban and rural areas.
“This has been crucial in assisting marginalised groups in development and creating a robust local economic ecosystem, thereby attracting investors to the northern regions.”
He suggested that future NCER programmes should also prioritise modern agriculture to help achieve the nation’s food security agenda.
“The adoption of cutting-edge technology is crucial in empowering the country’s agriculture to a higher level, particularly in ensuring food security is efficiently and effectively managed.
“The emergence of this latest technology will also transform traditional farming norms into more digitised and systematic norms, enhancing agricultural productivity and reducing reliance on food imports,” he added.
Zayad said that investment in new technology and innovation is vital to maintaining competitiveness and relevance in the current and future economic landscape.
“It is hoped that domestic and foreign investments in the region will create high-impact, strengthening and sustaining economic growth momentum.
“This also presents an opportunity for industry players in the NCER region to enhance their operations and develop talent and skills through new investments.”
Zayad said such investment is crucial especially in meeting the growing demand for companies relocating their manufacturing facilities or research and development centres (R&D) to Malaysia, particularly in the northern region.
“At the same time, NCER should focus on strategic projects, high-impact investments, and enhancing talent and development for micro-, small- and medium-scale enterprises (MSMEs),” he added.
Zayad also stressed the importance of high-value manufacturing and modern agriculture, highlighting the need for strategic planning to address immediate citizen, business and industry needs, particularly in bridging the rural-urban development gap.
He hoped that NCER will serve as a crucial bridge between urban and rural areas, particularly in fostering economic balance and a conducive entrepreneurial ecosystem.
“In this regard, strategies to promote investment in new technologies, such as financial technology, e-commerce, digital healthcare, need to be effectively implemented to prepare the northern region, especially in facing the global digital wave by driving knowledge-based digital industry growth.
“This is also crucial, especially in strengthening the digital ecosystem to enhance the quality of life for the people in this region,” he added.
Meanwhile, in establishing and realising a digital-based economic ecosystem and supporting e-commerce, Zayad stressed that investment in telecommunications infrastructure and high-speed internet access in rural areas is paramount.
“NCER is expected to collaborate more proactively with telecommunications companies to expand connectivity and improve internet quality, especially in rural areas,” he added.