M'sia Malacca targets $1.6B worth of investments this year

Malacca is targeting investments of $1.6 billion from both foreign and local investors in the manufacturing sector this year, says Chief Minister Datuk Seri Idris Haron.

"The industrial and manufacturing sectors are the backbone of the state's economy and the contribution from both these sectors last year showed that Malacca is very dependent on foreign and local investors," said Idris.

Last year, Malacca was the 6th largest state to record investments after Johor, Selangor, Sarawak, Sabah and Penang.

He added that the Melaka State Development Corporation has to date developed 1,720ha of industrial land and is developing new areas such as the Lipat Kajang Industrial Park in Jasin, the Bio Central Industrial Park, the Inland Port project in Taboh Naning and the 3rd phase of the Melaka World Solar Valley project in Rembia.