What incentives drove RM15.5 billion in investments to NCER?

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Investment Incentives Driving Significant Investment into NCER

The Northern Corridor Implementation Authority (NCIA) successfully attracted RM15.5 billion in investments in 2020, significantly surpassing its RM7 billion target by over 120 per cent. This achievement was primarily driven by the provision of robust business stimulus incentives and attractive tax structures designed to foster economic activity within the Northern Corridor Economic Region (NCER).
Business Stimulus and Tax Structures

NCIA implemented strong business stimulus incentives and attractive tax structures to encourage investment. While the specifics of these incentives and tax benefits are not detailed, their effectiveness is evident in the substantial investment figures secured. These measures were crucial in overcoming the economic challenges posed by the pandemic, allowing the region to exceed its investment goals.
Job Creation and Bumiputera Investment

Beyond attracting capital, these incentives also led to significant job creation, with over 23,000 jobs approved in 2020, far exceeding the target of 5,900. A notable portion of this investment came from Bumiputera companies, with 16 firms committing nearly RM500 million. Furthermore, specific programmes like Dana Usahawan Bumiputera contributed to creating almost 750 jobs by the end of October.
Human Capital Development Programmes

NCIA also focused on human capital development to support the workforce and entrepreneurship. The NCER Talent Enhancement Programme successfully placed over 1,200 unemployed graduates with employers. Additionally, the entrepreneurNCER and empowerNCER programmes have benefited more than 12,000 entrepreneurs, providing assistance for the sustainability and growth of small and medium businesses.
Fast-Track Employment and Entrepreneurship Initiatives

New fast-track programmes, JomKerja@NCER and JomNiaga@NCER, launched in August, further bolstered job creation and entrepreneurship. These initiatives offer reskilling, upskilling, and soft skills training to enhance competitiveness in the job market. To date, these programmes have generated over 3,800 jobs and supported the establishment of 1,300 entrepreneurs.

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What incentives drove RM15.5 billion in investments to NCER?

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