KUALA LUMPUR, 15 May 2019 – Following the signing of the Memorandum of Understanding (MoU) between the Malaysian Investment Development Authority (MIDA) and China Communications Construction Company Ltd (CCCC) on 25 April 2019 in Beijing, a dedicated team within MIDA has been established to facilitate, evaluate and review the implementation of the Economic Accelerator Projects (EAP) along the East Coast Railway Link (ECRL) corridor.
The signing of the MoU between MIDA and CCCC was also witnessed by YAB Tun Dr. Mahathir Mohamed, Prime Minister of Malaysia and His Excellency Li Keqiang, Premier of the State Council of the People’s Republic of China.
“Moving forward, the team will engage and strategise various action plans covering promotional activities and engagements with relevant stakeholders including domestic industries,” MIDA stated.
These catalytic projects 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.
According to MIDA, the ECRL project, which will form the East-West rail transport network is designed to stimulate the commercial, logistic, import & export, as well as tourism development activities along the proposed alignment.
“With the inflows of Foreign Direct Investment (FDI) &, Domestic Investment (DI) and potential growth for industrial, commercial and tourism sectors, the railway will contribute towards bridging the development gap between the east and west coasts of Peninsular Malaysia,” it stated.
MIDA together with CCCC will promote the EAP 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 as well as the sharing of best practices.