MARKET DEVELOPMENT
BUDGET: Private Investment To Rise To RM189 Bln Next Year
BUDGET: Private Investment To Rise To RM189 Bln Next Year
26/10/2013 (Bernama) - Private investment is expected to increase further to RM189 billion or 17.9 per cent of gross domestic product (GDP) next year, particularly in oil and gas, textile industry, transport equipment and real estate development, Prime Minister Datuk Seri Najib Tun Razak said.
He said public investment is estimated to reach RM106 billion with projects to be implemented including construction of the 316-kilometre West Coast Expressway from Banting to Taiping as well as double-tracking projects from Ipoh to Padang Besar, and later from Gemas to Johor Baharu.
"In the oil and gas sector, among projects to be undertaken by Petronas include the Sabah Ammonia Urea Project (SAMUR) in Sipitang; the integrated oil and gas production development project in Kebabangan; the regasification plant project in Lahad Datu, Sabah; and RAPID in Pengerang, Johor, which is the largest investment in Malaysia," he said when tabling the Budget 2014 in Parliament, Friday.
Najib, who is also Finance Minister, said the government has allocated RM1.6 billion for development in the five regional corridors in 2014.
"Among the main projects to be implemented include the agropolitan project and oil palm-based industries in the Sabah Development Corridor as well as Samalaju Industrial Park and a halal hub in the Sarawak Regional Corridor.
"Meanwhile, in the East Coast Corridor, Kuantan Port will be expanded. An integrated petrochemical complex will be built in Gebeng and Kertih. In the Northern Corridor, the main projects include planting of commercial crops and fertigation system," he added.
He said public investment is estimated to reach RM106 billion with projects to be implemented including construction of the 316-kilometre West Coast Expressway from Banting to Taiping as well as double-tracking projects from Ipoh to Padang Besar, and later from Gemas to Johor Baharu.
"In the oil and gas sector, among projects to be undertaken by Petronas include the Sabah Ammonia Urea Project (SAMUR) in Sipitang; the integrated oil and gas production development project in Kebabangan; the regasification plant project in Lahad Datu, Sabah; and RAPID in Pengerang, Johor, which is the largest investment in Malaysia," he said when tabling the Budget 2014 in Parliament, Friday.
Najib, who is also Finance Minister, said the government has allocated RM1.6 billion for development in the five regional corridors in 2014.
"Among the main projects to be implemented include the agropolitan project and oil palm-based industries in the Sabah Development Corridor as well as Samalaju Industrial Park and a halal hub in the Sarawak Regional Corridor.
"Meanwhile, in the East Coast Corridor, Kuantan Port will be expanded. An integrated petrochemical complex will be built in Gebeng and Kertih. In the Northern Corridor, the main projects include planting of commercial crops and fertigation system," he added.