NCER records RM36.62bil investments in Penang, surpasses 2026 target

GEORGE TOWN: The Northern Corridor Economic Region (NCER) recorded RM36.62 billion in realised investments and created 19,033 jobs in Penang as of Sept 30.

This achievement surpasses the state's 2026 annual targets of RM22 billion in investments and 9,000 jobs.

Northern Corridor Implementation Authority (NCIA) chief executive Datuk Mohamad Haris Kader Sultan said the results demonstrated strong investor confidence in Penang's industrial ecosystem, particularly in electrical and electronics (E&E), semiconductors, and advanced technology sectors.

"Based on current performance, we are on track to achieve the cumulative realised investment target of RM278.6 billion by 2030 under the NCER Strategic Development Plan 2026–2030 for the state," he said in a statement presented during the Penang State Steering Committee (JPN) meeting.

Key projects highlighted during the meeting include the NCER Technology Innovation Centre (NTIC), supported by the Advanced Packaging Institute and Research Centre (APIRC) to bolster semiconductor capabilities.

Progress was also reviewed for the Penang Durian Valley @ Relau project, which has reached 48 per cent physical completion and is targeted for completion in Q1 2027 to boost agrotourism.

Additionally, NCIA is driving the Dapur Sentral Programme in the northeast and southwest districts, with plans to expand into Seberang Prai to empower local entrepreneurs within the Halal food value chain.

"NCER's focus is to ensure that realised investments translate into quality employment opportunities, talent development, SME growth and inclusive and sustainable economic development for the benefit of the people.

"This achievement demonstrates that strategic collaboration between the federal government, state government and industry players can successfully translate development plans into tangible outcomes," Haris added.

It was reported that the government had set a target for the cumulative realised investment in the NCER to reach RM470 billion by 2030, an increase of RM126.2 billion from the RM343.8 billion realised to date.

This will be driven largely by key sectors including electrical and electronics (E&E), automotive, high-value tourism and modern agriculture, which are collectively expected to contribute 70 per cent of the targeted investment.