KUALA LUMPUR, May 15 (Bernama) -- Following the signing of the Memorandum of Understanding (MoU) between the Malaysian Investment Development Authority (MIDA) and China Communications Construction Company Ltd. (CCCC) on 25 April 2019 in Beijing, witnessed by YAB Tun Dr. Mahathir Mohamed, Prime Minister of Malaysia and His Excellency Li Keqiang, Premier of the State Council of the People’s Republic of China, a dedicated team within MIDA has been established to facilitate, evaluate and review the implementation of the Economic Accelerator Projects (EAP) along the East Coast Railway Link (ECRL) corridor.
 
Moving forward, the team will engage and strategise various action plans covering promotional activities and engagements with relevant stakeholders including domestic industries.
 
These catalytic projects will create a wide spectrum of business and job opportunities including the development of industrial parks, logistics hub and transit-oriented development along the ECRL corridor.
 
The ECRL project, which will form the East-West rail transport network is designed to stimulate the commercial, logistic, import & export, as well as tourism development activities along the proposed alignment. With the inflows of Foreign Direct Investment (FDI) & Domestic Investment (DI) and potential growth for industrial, commercial and tourism sectors, the railway will contribute towards bridging the development gap between the east and west coasts of Peninsular Malaysia.
 
MIDA together with CCCC will promote the EAP to maximise its success potential and invite local and international investors to invest in the projects. Both parties will also undertake cooperation and capacity building activities to encourage the industrial and business communities to organise or participate in dialogues, workshops, seminars and conferences; technical assistance to promote and facilitate capacity building and training; the sharing of best practices.
 
MIDA will provide information regarding the implementation of EAP from time to time.

ABOUT MIDA
MIDA is the government's principal promotion agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Starting operations in 1967 with a relatively small set up of 37 staff, MIDA has grown to become a strong and dynamic organisation of over 700 employees. Headquartered in Kuala Lumpur Sentral, MIDA today has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram and Facebook, @OfficialMIDA.

Source: Malaysian Investment Development Authority (MIDA) 

FOR MORE INFORMATION, PLEASE CONTACT:
Name: En. Farez Amha Abdullah
Senior Deputy Director, ECRL Unit, MIDA
Tel: 03-2267 3462
Email: ecrl@mida.gov.my

--BERNAMA