Negeri Sembilan Records RM5.7 Billion In Foreign Investments Last Year

SEREMBAN, March 7 – Negeri Sembilan recorded foreign investments totalling RM5.7 billion last year, making the state among the top five investment destinations in Malaysia.

Menteri Besar Datuk Seri Mohamad Hasan said this was a good achievement as the state has set the target of RM1 billion in foreign investments annually in order to achieve minimum growth of five percent.

“Last year, the total foreign investments in our manufacturing sector alone (excluding retail and services sectors) amounted to RM5.7 billion.

“We expect the total foreign investments for the manufacturing sector in the state to increase further this year, considering that we now have many negotiations in the pipeline and a lot of people are knocking on our door at present,” he told reporters here today.

Mohamad said this after the signing of sales and purchase agreement for industrial land at Sendayan Valley, Bandar Sri Sendayan near here between Menteri Besar Incorporation (MBI), Akashi Kikai Industry (M) Sdn Bhd and BSS Development Sdn Bhd.

He said the foreign investors’ interest in the state was encouraging based on several factors one of which was that te state is considered part of the greater Klang Valley.

In addition, factories that are now operating in areas such as Shah Alam, Petaling Jaya and Subang Jaya, want to relocate to the state under their expansion programmes.

“Some of them want to unlock the value of their assets…So, they want to relocate, at the same time unlock the potential from industrial to commercial or to housing development where they can reap more value for their land compared to the current usage.

“Hence, Negeri Sembilan is preparing itself since it is considered part of the greater Klang Valley. We have put in place a lot of facilities especially infrastructure. Negeri Sembilan, on the other hand, has an advantage because it is close to KLIA, Port Klang and also the inland port.

“This will also be a catalyst for people to consider coming (to invest) to Negeri Sembilan. There are many investments that are under discussions. One of the issues we are discussing is on supply of gas.

“One of the conditions and a priority raised by the industries is the supply of gas. They don’t want to use electricity from Tenaga Nasional as it’s very costly…They prefer to use gas.

“We are now discussing with Gas Malaysia for the connection of the gas pipeline from Seremban to Bandar Sri Sendayan. If we can work out the gas supply, I’m confident that five or six big companies with multi billion ringgit investment will come to Negeri Sembilan,” he said.