ECER promoting prospects in Halal New Growth Clusters to GCC
Malaysia’s East Coast Economic Region is wooing GCC investors to tap into opportunities in the Halal New Growth Clusters which have a total estimated value of USD$274 billion worldwide.
The East Coast Economic Region Development Council (ECERDC) will establish Halal parks in Pasir Mas, Kelantan and Gambang, Pahang for the production of food and non-food products.
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Middle East countries are expected to invest nearly US$700 million (RM2.1 billion) in Malaysia’s eastern region, especially in the areas of halal cuisine, tourism and agriculture.
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Malaysia’s East Coast Economic Region senior officials will embark on their second investment mission to the UAE and Saudi Arabia this week to attract more investors from the GCC countries.
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Many Muslim entrepreneurs in the Malaysian East Coast state of Terengganu are still without halal certificates, making it difficult to market their foodstuff even in the local market.
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Universiti Sultan Zainal Abidin in Terengganu has been appointed by the East Coast Economic Region (ECER) to help Malaysian businessmen penetrate the global halal market.
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Malaysia’s East Coast Economic Region (ECER) has set an ambitious investment target of RM5 billion (US$1.6 billion), where up to RM3 billion (US$971 milion) in investment is expected from Middle East alone.
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Saudi businessmen should explore investment opportunities in the East Coast Economic Region (ECER) especially in the petrochemical, agriculture and tourism industries, said Saudi Prince Abdul Aziz Faisal Al Saud.
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Former Malaysian Prime Minister Tun Abdullah Badawi will be leading the East Coast Economic Region (ECER) on an investment mission to the Middle East from May 7 to 17 to attract investors and enhance bilateral business relations between Malaysia and the Gulf region.
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