PM announces special tax incentive for NCER players

Prime Minister Datuk Seri Najib Tun Razak today announced a special tax incentive for the Northern Corridor Economic Region (NCER) to boost investment in the region.

He said the incentive was specific for companies which engaged in the key areas in that region, such as manufacturing, agriculture, bio-industries and services.

"I am confident that with the dedication of the Northern Corridor Implementation Authority (NCIA) and the close collaboration among the federal and state agencies and the private sector, the vision to make the NCER a world-class destination will become a reality," he said at the launch of the NCER Blueprint 2.0 here.

On the launch of the blueprint, Najib said the NCER would realise a total accumulated investment of RM146.5 billion by 2025.

Each state in the northern region, namely Perlis, Kedah, Penang and Perak, had its own strengths and uniqueness which, combined, would bring more rapid progress to the people in the NCER, he said.

"This is the philosophy behind the establishment of the NCER,” he said.

Najib also said that the Gross Domestic Product for the NCER was expected to touch RM300 billion by 2025 with the average household income rising to RM12,964.

"The average household income of the B40 group will rise to RM6,043," he added.

The Prime Minister said studies showed that the GDP growth of the northern corridor was encouraging, at 5.4 per cent per annum from 2010 to 2014, which was 0.8 per cent higher than the country’s GDP growth rate.

He said Blueprint 2.0 was not only important for the future of the northern corridor, but also would serve as a reference and guide for all ministries, departments, agencies and the private sector in the efforts to plan and develop the NCER.

Among those who attended the launch were Perak Menteri Besar Datuk Seri Dr Zambry Abd Kadir, Perlis Menteri Besar Datuk Seri Azlan Man, Penang Chief Minister Lim Guan Eng and Deputy Health Minister Datuk Seri Dr Hilmi Yahaya.

Also present were Kedah state secretary Datuk Bakar Din; the special advisor to the Prime Minister on the NCER, Datuk Seri Zainal Abidin Osman; and NCIA chief executive Datuk Redza Rafiq.

-- BERNAMA