FMM expects Negeri Sembilan to be the new hotbed for investments
KUALA LUMPUR, March 23 — The Federation of Malaysian Manufacturers (FMM) says Negeri Sembilan has the potential to compete with other states such as Selangor in attracting new investments.
FMM president Tan Sri Soh Thian Lai said the state could also be the next hub for the Greater Klang Valley, driven by its seven focus industries in the Invest Negeri Sembilan Year 2021 (Invest NS 2021).
“Negeri Sembilan’s seven priority clusters are in line with the 11th Malaysia Plan and the vision to move towards more complex and diverse products which are of high value and high technology.
“It can then move Malaysian manufacturing activities up the value chain towards achieving the high-income nation status,” he said during the Malaysian Investment Development Authority’s (MIDA) ‘Investment Webinar Series – Business As (Un)Usual: Investment Prospects in Negeri Sembilan’, here today.
The seven focus industries include aerospace; automotive; agriculture and agro-based; biotechnology; medical and scientific devices/parts; advanced technology and supporting industries.
In addition, Soh said the Malaysia Vision Valley 2.0 (MVV 2.0) has been designed to support this blueprint, focusing on high-technology manufacturing, clean technology and specialised services, among others.
The MVV 2.0 has been proposed to be transformed into a specialised investment zone with a one-stop approval centre.
“Negeri Sembilan offers an ideal location within the Greater Klang Valley area, with strategic land use, efficient social services, enhanced community amenities, integrated transport and logistics service and network.
“It has quality infrastructure and utilities, which are plus points for investors,” he said.
Meanwhile, Soh said the manufacturing sector is still a key driver of the Malaysian economy and the sector is an important contributor to Negeri Sembilan’s economic growth and development.
“Negeri Sembilan has at least two mega-development projects lined up — the East Coast Railway Link (ECRL) and the MVV 2.0 — which will significantly improve investments and economic growth.
“Under the ECRL, the state will have two stations in Kuala Klawang and Nilai, while the MVV 2.0 — the country’s new economic corridor — is envisioned to be a worldclass metropolis of over 153,411 hectares, stretching from Nilai to Port Dickson,” he said.
Phase 1 of the MVV 2.0 comprises a high-tech industrial park, an integrated transport district, a tourism district and a bird/river sanctuary, among others.
In 2019, the state requested for a free-trade zone to be set up in the MVV 2.0 to help boost and accelerate the state’s economic growth.
Meanwhile, MIDA deputy chief executive officer, Ahmad Khairuddin said investments into Negeri Sembilan are gaining momentum, and last year was the best year for the state in terms of investments.
“Negeri Sembilan has the potential to attract investments in the automotive, chemical and advanced electronics sectors, driven by the MVV 2.0,” he said.