Saudi businessmen should explore investment opportunities in the East Coast Economic Region (ECER) especially in the petrochemical, agriculture and tourism industries, Bernama news agency reported on Friday. “I am very happy to note that there are many business opportunities in ECER Malaysia that Saudi investors can participate in,” said Prince Abdulaziz Faisal Al-Saud, who is part of a delegation from Saudi Arabia which is on a five-day business visit to Malaysia beginning July 12. A statement from East Coast Economic Region said the delegation would identify key projects within the ECER that can be pursued by Saudi investors. The Prince and delegation members were briefed on potential investment opportunities in the Kertih Polymer Park, Palm Oil Industrial Cluster, Gambang Halal Park, livestock agriculture projects and the development of Cherating, Pantai Sepat and Teluk Bidara. The visit is reciprocal to the visit made by the ECER Development Council (ECERDC) investment delegation in May, led by the National Corridor Development Adviser, Tun Abdullah Ahmad Badawi. Meanwhile, ECERDC Chief Executive Officer Datuk Jebasingam Issace John was quoted as saying in the statement that firm investment commitments are expected to be made by several investors from Saudi Arabia by year-end. “We are confident their interest to invest in ECER will be realized soon, based on ongoing discussions with potential investors, and the call made by Prince Abdul Aziz,” he said.
