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Investment Potential in Perak Gains Confidence from the European Union

By: Rosli Mansor Ahmad Razali

Ipoh – Perak’s economy receives a significant boost through collaboration with the European Union (EU), signalling the influx of foreign investments.

A grant amounting to RM9.5 million has been approved by the EU for the Port of Antwerp-Bruges International (PoABI) and the Perak State Development Corporation (PKNPk).

This grant will be utilized to conduct a study on Malaysia’s attractiveness in the port and maritime sector. Dato’ Seri Saarani Mohamad, the Chief Minister, stated that this grant is a crucial achievement, highlighting the nation’s importance as a primary investment destination.

According to him, it also aids Lumut in realizing its potential as a key driver for comprehensive and sustainable development in the state of Perak.

“The natural resources wealth of Perak, coupled with the development of the Lumut Maritime Industrial City (LuMIC), makes the state an attraction for the EU. The comprehensive study to be conducted will include assessments to attract potential EU or other foreign investors,” he said.

He made these remarks during the announcement ceremony of the EU grant by PoABI and PKNPk. The event was attended by the EU Ambassador to Malaysia, Michalis Rokas; the Belgian Ambassador to Malaysia, Peter Van Acker, and the CEO of PoABI, Kristof Waterschoot.

The ceremony also witnessed the signing of a shareholder agreement to establish LuMIC Development Sdn. Bhd. (LuMIC DevCo).

The strategic collaboration between PKNPk and PoABI to establish LuMIC as a new regional hub in the Strait of Malacca is part of the efforts to achieve the vision of Perak Sejahtera 2030.

The event also featured the issuance of participation certificates to the first group of 10 students embarking on the Lumut Maritime Industrial City Practical Training Program.

This practical training program, in collaboration with the Perak Aspiration Center for Children (PASAK) and the Darul Ridzuan Institute, aims to develop the skills of the youth in Perak.

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