Malaysia to invest $5 billion in IMTGT
Malaysia to invest $5 billion in IMTGT
JAKARTA (JP): Malaysian businesspeople have pledged to invest
about US$5 billion in the triangular area linking northern
Sumatra, western Malaysia and southern Thailand.
The deputy chairman of Malaysian Chamber of Commerce and
Industry, Abdul Rahman Maidin, said over the weekend part of the
money would be invested in Aceh's plantations, industrial and
trade sectors.
"But I cannot yet identify them. What's important is that they
will certainly invest in the bordering areas of Indonesia,
Malaysia and Thailand," he said on the sidelines of the Business
Council Meeting of the Indonesia, Malaysia, Thailand Growth
Triangle Cooperation.
Rahman, who led a Malaysian delegation to the meeting, said
several Malaysian businesspeople had made previous investments in
the three sectors of the three ASEAN nations.
ASEAN groups Brunei, Indonesia, Malaysia, the Philippines,
Singapore, Thailand and Vietnam.
Other sub-regional cooperation agreements include the
triangular area between Singapore, southern Malaysia and
Indonesian province of Riau.
Rahmad said that of 43 memorandums of understanding
businesspeople had signed for the western Malaysia, Aceh and
Thailand growth triangle, only 14 had been realized.
Three of the 14 realized ones are in Aceh. They are a molding
plant in Aceh Besar, an ice plant in Sabang (Weh island) and a
direct flight service by Pelangi Air linking Blang Bintang and
Penang in Malaysia.
Asked about the difficulties of realizing business projects
under the subregional program, Rahman cited administration
problems and in particular the procedures to get business
licenses.
"The long procedure to get business licenses stands in the way
of realizing business projects in Aceh. I think if the problem
can be tackled, many Malaysians will invest here (Indonesia)," he
said.
Aceh Governor Syamsuddin Mahmud called on subregional
businesspeople to find solutions to administration problems.
"I'm sure that each of you has a solution to offer to solve
the problem," the governor said in his opening remarks to the
business council meeting as reported by Antara.
He said infrastructure was not a big problem. Only
administration. (bnt)