Melaka to reinstate its maritime hub and trade glory via M-WEZ
By Ayisy Yusof April 8, 2021 @ 1:52pm
Melaka Chief Minister Datuk Sulaiman Md Ali says the state government expects between RM3 billion and RM4 billion or about five per cent in the state’s annual gross domestic product (GDP) to come from Melaka Waterfront Economic Zone (M-WEZ) by 2035. Pix by Mohamad Shahril Badri Saali.
Quote:
KUALA LUMPUR: Melaka state government is expecting between RM3 billion and RM4 billion or about five per cent in the state's annual gross domestic product (GDP) to come from Melaka Waterfront Economic Zone (M-WEZ) by 2035.
Chief Minister Datuk Sulaiman Md Ali said the target would exclude contribution via direct income taxes to the federal government by companies operating in the zone.
"Straits of Melaka is the world's busiest shipping lane with about 100,000 vessels annually.
"It gives an opportunity for Melaka to attract potential investors to invest in our port with various facilities and high technology for shippers," he said.
He also said the current state's Port of Tanjung Bruas facilities were unable to accommodate large vessels.
"If we can have a port with better facilities and high technology, we can attract more ships to Melaka port in the future.
"The development of this port will be carried out by investors and we will offer investment incentive packages to them," he said.
Sulaiman said the state government will encourage the development of container and general cargo ports, cruise and ferry terminals, free-trade zones, logistics hub, oil and gas terminals, ship repair yards and ship-to-ship (STS) transfer facilities.
"STS operations would enable ships to transfer their cargo to other vessels without having to dock at the piers, allowing higher shipping flexibility and reducing costs for shippers," he said.
M-WEZ will sit on a 25,000-acre of coastal and reclaimed land and will have a total distance of 33km between Northern Melaka near Sg Udang and Southern Melaka in Umbai.
"It will be the new engine growth and a game changer with a major economic enabler that is expected to attract more than RM100 billion in high-impact and high-value investments globally over a period of 15 year.
|
https://www.nst.com.my/business/2021...de-glory-m-wez