KUALA LUMPUR: The Malaysian Investment Development Authority (Mida) has established a team to promote the development of industrial parks, infrastructure, logistics hub and transit-oriented developments along the East Coast Railway Link (ECRL).
In a statement today, Mida said the team was established to facilitate, evaluate and review the implementation of economic accelerator projects (EAPs) along the ECRL corridor.
The team will strategise various action plans covering promotional activities and engagements with the relevant stakeholders including domestic industries.
This follows the signing of a memorandum of understanding between Mida and China Communications Construction Company Ltd (CCCC) in Beijing on April 25, witnessed by Prime Minister Dr Mahathir Mohamad and his Chinese counterpart, Li Keqiang.
According to Mida, the ECRL project, which will form the East-West rail transport network, is designed to stimulate commercial, logistic, import and export, as well as tourism development activities along the proposed alignment.
With inflows of foreign direct investment and domestic investment as well as 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 said these projects would 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.
“Mida together with CCCC will promote the EAPs to maximise their 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, and the sharing of best practices,” it said.