Melaka’s New Economic Zone Looking To Attract RM100 Billion In Investments

The Melaka State government has launched a new high-impact, high value growth corridor, Melaka Waterfront Economic Zone (M-WEZ), to help jump start the state’s economy.

The waterfront corridor will focus on transforming the state’s economic and social landscape and look towards implementing smart and green technology applications.

Melaka Chief Minister Datuk Seri Utama (Dr.) Haji Sulaiman bin Md. Ali said M-WEZ is the main pillar of the Melaka Strategic Plan 2035. The Plan will chart the state’s roadmap towards a sustainable and developed state over the next 15 years.

Sulaiman described M-WEZ as a “game-changer” and an “economic enabler” for Melaka.

“In an increasingly competitive world, Melaka needs to embark on new drivers to spur its economic development and create a new growth area which is more inclusive and sustainable,” he said.

“This Corridor will be the new engine of growth, a game changer and a major economic enabler that will create new jobs, more business opportunities and improve income level,” he said.

“From our projections, we anticipate that the Economic Zone will attract more than RM100 billion in high-impact, high-value investments from all over the world over a 15-year period,” he said.

He said M-WEZ is expected to generate more than 20,000 new jobs every year. Priority will be given to Malaysian workers.  It will also contribute at least five per cent to the state’s annual GDP. This excludes the contribution via direct income taxes to the Federal government by companies operating in the Zone.

The corridor will sit on a huge 25,000 acres of coastal and reclaimed land and will have a total distance of 33 kilometres running from northern Melaka near Sungai Udang right to the south in Umbai.

LEAVE A REPLY

Please enter your comment!
Please enter your name here