Perak secures RM1.6b investment prospects

IPOH: The Perak government has secured more than RM1.6 billion in new prospects and commitments following its trade and investment mission to China.

The investment prospects, spanning sectors such as artificial intelligence (AI), data centres, green energy, automotive manufacturing, and advanced industrial technology, are expected to strengthen Perak’s long-term economic transformation agenda while creating high-skilled employment opportunities for local talent.

Perak Menteri Besar Datuk Seri Saarani Mohamad said the mission reflected increasing confidence among global investors in the state’s economic stability, infrastructure readiness and long-term industrial development strategy.

He said it also signals a growing international confidence in Perak’s emergence as a strategic hub for future industries and high-technology investments.

“The state government wants to ensure that Perak is not merely an investment destination, but a state capable of developing an industrial ecosystem that offers quality employment opportunities, technology transfer and local talent development,” said Saarani.

The trade and investment mission from May 17 to 24 involved meetings with major Chinese technology and industrial players as the state government sought to attract quality investments aligned with the Perak Sejahtera 2030 development roadmap.

Among the mission’s biggest outcomes was a RM1 billion investment commitment for the proposed NexQuantum AI Digital Park @ SVTP. The commitment followed visits by the Perak delegation to the headquarters of Ennoconn in Kunshan as well as the Jiading Big Data Centre.

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According to Saarani, the proposed AI digital park project is subject to approval by Malaysia’s Data Centre Task Force, a strategic coordination platform jointly chaired by the investment, trade and industry and digital ministers.

He stressed that the state government remains committed to ensuring that all investment proposals complied with federal policies and are implemented through structured and sustainable mechanisms.

“The state government always ensures that every investment proposal is carried out in an organised and strategic manner, while complying with all policies and regulations set by the federal government,” he said.

In addition to digital and AI investments, the trade mission also advanced Perak’s ambitions in renewable energy development.

During the visit, the state witnessed the signing of a strategic cooperation memorandum between Perak SADC and Shuifa Energy Group Co Ltd to explore the development of a floating aqua-voltaic renewable energy project in Tanjung Tualang.

The proposed project, with a planned capacity of 30 megawatt peak (MWp), has projected investments ranging from RM180 million to RM200 million over three years.

Saarani said the project would strengthen the state’s green energy agenda while optimising water resource through sustainable infrastructure development.

The automotive manufacturing sector also emerged as a major beneficiary of the trade mission.

Yantai Yatong Precision Mechanical Technology, a company with more than 20 years of experience in automotive component manufacturing, selected Perak as the location for its first overseas manufacturing facility.

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The company plans to invest RM160 million in the Tanjung Malim Hi-Tech Park, further reinforcing the state’s position as a growing automotive and advanced manufacturing hub.

Meanwhile, Ningbo Fresh Technology Co Ltd, which already operates a manufacturing plant in Tanjung Malim, announced plans to expand its operations through an additional RM263 million investment.

Beyond corporate meetings and investment discussions, the Perak government, through InvestPerak and with support from Malaysian Investment Development Authority (Mida) Shanghai, also organised business-pitching sessions that involved more than 100 Chinese industry players.

The sessions were aimed at promoting investment opportunities across multiple sectors, including electrical and electronics, automotive manufacturing, machinery and spare parts, mineral-based downstream industries, halal industries and food processing.

State officials described the response from Chinese industry representatives as encouraging, particularly in areas linked to digital transformation, industrial automation and sustainable manufacturing.

Saarani said all identified investment prospects and commitments would continue to be closely monitored by relevant agencies to ensure they are translated into actual implementation and long-term economic benefits for the state.

He added that the investments are expected to strengthen Perak’s industrial ecosystem, accelerate technology transfer, develop local expertise, and generate more high-quality employment opportunities for Malaysians, particularly young people in Perak seeking careers in high-value industries.

The latest mission also reflected Perak’s broader strategy to position itself as a competitive investment destination in Southeast Asia by leveraging emerging sectors, such as AI, renewable energy, digital infrastructure and advanced manufacturing, as key drivers of economic growth.

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المصدر: New Straits Times