KANGAR, May 31 (Bernama) -- “Investors should take advantage of the incentive for Less Developed Area (LDA), which was introduced by the Government last year. This incentive was designed to assist states that received lower investments compared with more developed states. Under this scheme, newly established or existing companies that expand operations into less developed areas will be eligible for 100% income tax exemption for up to 15 years,” said YBhg. Datuk N. Rajendren, Deputy Chief Executive Officer of the Malaysian Investment Development Authority (MIDA) at the Seminar on Investment Opportunities in Perlis held in Hotel Seri Malaysia Kangar, Perlis today.
 
“Investors should leverage on all programmes and facilities provided by the Government. For example, as at April 2016, MIDA has approved RM905.8 million of Domestic Investment Strategic Fund (DISF) for 207 projects worth a total of RM10.2 billion. However, this grant has yet to be taken up by any companies in Perlis. We would like to see more companies here to discuss with us on the possibilities of getting all the available incentives,” he further added.
 
The one-day seminar, organised by MIDA together with the Perlis State Economic Planning Unit, was graced by YAB Dato’ Seri Azlan Man, Chief Minister of Perlis. The seminar featured a briefing by MIDA and the Perlis State Government. Shorubber (Malaysia) also shared their experience of doing business in Perlis.
 
“The State Government Plans to transform Perlis into an urbanised and developed state by 2020 and a high income state by 2030. To position Perlis as one of the industrial hub, the state Government is focusing on attracting quality projects that are of high technology, knowledge and skills intensive, create high income jobs, and able to generate multiplier effects for the economy,” said the Chief Minister of Perlis.
 
In his keynote address, the Chief Minister also updated the participants on the development of Chuping Valley as a new industrial area that will be a catalyst for investment activities in Perlis. The industrial area will be a hub for high value green activities and high end Halal products. The project is expected to create 12,674 job opportunities with a Gross National Income of RM2.58 billion by year 2025.
 
As at December last year, there are already 49 manufacturing projects implemented in Perlis, with total investments of RM1.0 billion. Majority of these investments were from domestic sources recording a total of RM676.5 million or 65% while the rest were from foreign sources. These projects, which have created over 6,000 job opportunities, were mainly in Electronics & Electrical products, Food Manufacturing, Non-Metallic Mineral products, and Plastic products.
 
Notable companies operating in Perlis include Negeri Sembilan Cement; Shorubber, the manufacturer of rubber gloves; Covidien, manufacturer of catheters; Iriichi, telecommunication equipment manufacturer from Japan; MSM Perlis (formerly known as Kilang Gula Felda Perlis) that operates a sugar refinery located in Chuping; and Perlis Marine Engineering, a company which is managed by a group of local Bumiputera employees who undertake maintenance and fabrication of Patrol Boats, Speed Boats, Marine Engineering and Fabrication Works.

SOURCE : Malaysian Investment Development Authority (MIDA) 
 
FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Encik Mohd Zukepli Embong
Director, Domestic Investment Division, MIDA
Tel: 03-2263 2444
Fax: 03 2273 4207
Email: zukepli@mida.gov.my
 
Name: Encik Abd Mukti Abu Bakar
Director, MIDA Kedah/ Perlis
Tel: 04-731 3978
Fax: 04-731 2439
Email: kedah@mida.gov.my / mukti@mida.gov.my 

--BERNAMA