KUALA LUMPUR: Malaysia will continue to undertake efforts to accelerate investment, provide infrastructure and review regional corridor development plans for a better geographic balance.
This was also help realise investment of RM236 billion and create 470,000 jobs by 2020, said the Economic Planning Unit (EPU) in the Eleventh Malaysia Plan (11MP).
It said the regional economic corridors would continue to assume an important role in Malaysia’s growth and development.
“The regional economic corridors will continue to develop economic clusters based on sectoral and geographic advantages and enhance the quality of life of local communities.
“A number of long-term, high impact programmes and projects are currently underway and will continue to be implemented in the coming years,” said EPU.
Priority sectors includes the creative cluster in Iskandar Malaysia; automotive and aeronautics industries in the Northern Corridor Economic Region, as well as, petrochemical industries in the existing industrial parks in the East Coast Economic Region.
Other sectors also included the tourism and palm oil downstream processing in Sabah Development Corporation (SDC) and energy-intensive industries including aluminium, steel and glass in Sarawak Corridor of Renewable Energy (SCORE).
EPU said a number of initiatives to promote inclusiveness would also be implemented across the regional economic corridors, mainly focused on income-generating activities and skills training for local communities.
In addition to the efforts, Malaysia aimed to enhance facilitation for investors and improve connectivity and mobility in regional economic corridors, which includes the construction and upgrading of roads and highways such as the Pan Borneo Highway to link SCORE and SDC.
The collaboration between government, industry and academia would be strengthened to intensify research, development and commercialisation activities in economic clusters to ensure industrial sustainability, EPU added.
The five-year plan was tabled by Prime Minister Datuk Seri Najib Tun Razak in the Dewan Rakyat today.