Ensuring shared prosperity through balanced regional growth. Targets to achieve by 2025:
This is in line with the Malaysian Government’s Shared Prosperity Vision 2030 that emphasises on economic to deliver sustained growth with social inclusion.
The plan is anchored on our vision of Growth with Equity and our goal of NCER becoming a world-class economic region by 2025. It outlines the strategies, insights and projections that would bring about positive spillover effects for our society. It also acts as the basis for the implementation of projects and programmes in NCER under the 12th Malaysia Plan (12MP).
NCER’s Strategic Development Framework (2021 – 2025):
These strategic thrusts under the new framework place equal emphasis on socioeconomic development and the rakyat; and are aligned with the three key dimensions of the Shared Prosperity model – – Sustainable Economic Growth, Social Re-Engineering and Conversation and Preservation of Environment.
To achieve the 2025 targets, we have identified six priority sectors that will drive NCER’s economic growth within the next five years.
Manufacturing and Agribusiness will continue to be important sectors for the region, along with Tourism and Logistics & Connectivity, which fall under the Services sector.
Petrochemical, Green Economy and Sustainable Mining are three newly identified key sectors for NCER’s next phase of development.
The Petrochemical sector will capitalise on the region’s abundant feedstock supply of natural gas. Under the Green Economy sector, efforts will be channelled towards creating a green economic zone within the region by leveraging on its natural resources. And finally, the Sustainable Mining sector will focus on the industry’s best practices, including those from leading mining nations.
There are also two new sub sectors identified under the Services cluster: Digital Economy, for its ability to create high-value, high-income jobs; and Education, to help ensure sufficient talent supply, which in turn will help attract more investors.