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November 30, 2011

NCIA Negotiating with Japanese Investor

KUALA LUMPUR, Nov 30 (Bernama) The Northern Corridor Implementation Authority (NCIA) is negotiating with a Japanese firm on the latter's plan to invest in the region.

Chief executive Datuk Redza Rafiq said the firm was one of two Japanese companies which had committed to invest in the region.

While declining to provide details of the Japanese firm's business plan, Redza said another company was expected to commence business in high-end automotive design near Taman Tasik Taiping, Perak, early next year.

"The company is currently in the midst of preparation to start its business. About 80 staff will undergo training for the first stage soon," he told a press conference here Wednesday.

He earlier announced that the Bumiputera Agenda Coordinating Unit (Teraju) of the Prime Minister's Department will locate its Entrepreneur One-Stop Regional Centre in the Northern Corridor Economic Region.

Redza said the centre, to be located within the NCIA's corporate office in Penang, would start operations in the first quarter of next year.

He also said NCIA was looking at securing more deals next year.

In the first seven months of the year, NCER saw RM6.89 billion worth of private sector investments mainly in the agriculture, manufacturing, tourism and logistics sectors.

He said this created 9,910 jobs and business opportunities for locals.

Last year, NCER received RM6.08 billion in investments of which local investments accounted for RM3.14 billion and foreign investments the remainder.  A total of 15,898 jobs were created last year.

Source: BERNAMA