KRC is ready to accept investors – Already attracted some RM4 billion worth of committed investment that will create 7,000 new job opportunities.
Chief Executive Officer of Invest Kedah Berhad and Director of Kedah State Economic Planning (BPEN), Encik Muhamad Mahazi bin Haji Ibrahim was also present to witness the Opening Ceremony of NCER Strategic Project – Kedah Rubber City (KRC) officiated by YAB Prime Minister of Malaysia, Dato’ Seri Ismail Sabri bin Yaakob, located in Kedah Rubber City, Padang Terap, Kedah.
Kedah Rubber City (KRC), Malaysia’s first ever dedicated rubber eco industrial park that is expected to sustain the current growth trajectory of Kedah. To be developed in two phases in an area spanning 1,244 acres, KRC is one of the Federal Government’s national strategic projects implemented via NCIA with the aim of making it a leader in the development of Malaysia’s rubber industry, as well as a global hub for high-value rubber industry.
Phase 1 of KRC development has already been completed and the industrial park is now ready to welcome the arrival of investors. Following the remarkable progress of KRC Phase 1, Phase 2 of the project is scheduled to commence in 2023.
KRC is expected to boost the income of rubber smallholders in Kedah by ensuring continuous and sustainable demand for their natural rubber, as well as stabilising rubber prices by optimising rubber usage through the production of value-added downstream products. Response towards KRC has been encouraging to-date, as it has already attracted some RM4 billion worth of committed investment that will create 7,000 new job opportunities. In fact, KRC is already on track to meet its RM10 billion private investment target by 2025, five years earlier than the original target of 2030. The investment will create around 15,000 job opportunities for the locals, not only in Padang Terap but also Kedah in general.
Meanwhile, Kedah Menteri Besar YAB Dato’ Seri Haji Muhammad Sanusi Md Nor in his speech said that Kedah’s economy has made a strong rebound in 2021 on the back of private investments in export-driven manufacturing sector, particularly in the production of rubber gloves, electrical and electronic products, as well as renewable energy. He added that investment growth for Kedah will be further sustained with the implementation of high-impact strategic projects such as KRC.
“I am confident that KRC is also able to follow in the footsteps of Kulim Hi-Tech Park (KHTP) in attracting quality investments that can generate spill-over effects to the people of Kedah, especially in terms of new employment and entrepreneurship opportunities,” he noted.
The official launch of KRC today was also attended by Minister in the Prime Minister Department (Economy), YB Dato’ Sri Mustapa Bin Mohamed; Rural Development Minister, YB Dato’ Seri Mahdzir Bin Khalid; Perlis Menteri Besar, YAB Dato’ Seri Azlan Bin Man; Perak Menteri Besar, YAB Dato’ Seri Saarani Mohamad; and YB Dato’ Wira Dr. Ku Abd Rahman Ku Ismail, Senior Member of the Kedah State Executive Council, Chairman of the Industry and Investment, Science, Technology, Innovation and Higher Education.