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Malaysia's SEZ attracts 3 billion dollars investment

(Xinhua)

14:01, February 29, 2012

KUALA LUMPUR, Feb. 29 (Xinhua) -- Malaysia attracted more than nine billion ringgit (2.98 billion U.S. dollars) of private investments in its east coast special economic zone in the first two months of this year, including tourism and college projects aimed at stimulating growth in the traditionally less developed east coast of the peninsula.

Prime Minister Najib Razak made the announcement on Tuesday, saying that the bulk of the projects in the East Coast Economic Region or Ecer were from Malaysian companies.

One of the major projects was a joint venture aquafarming between Chinese company Zhanjiang Guolian Aquatic Products Co. Ltd and a Malaysian firm, investing one billion ringgit (332.17 million U.S. dollars) over a five-year period.

The project would commence in July.

Najib said the projects would create 20,000 jobs and contribute six billion ringgit (1.99 billion U.S. dollars) to the gross national income by 2020.

The government has attracted some 20.9 billion ringgit (6.94 billion U.S. dollars) in investments in Ecer up till last year since it was established in 2008.

The Ecer covers the states of Kelantan, Terengganu, Pahang and Johor.

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