Penang:Northern Region Budget 2027 is set to enhance the Northern Region's status as a national hub for economic growth, technology, and industrial development with a focus on high-value investments, the semiconductor industry, artificial intelligence (AI), and talent development.
According to BERNAMA News Agency, Northern Corridor Implementation Authority (NCIA) chief executive Datuk Mohamad Haris Kader Sultan stated that the budget aligns with the NCER Strategic Development Plan 2026-2030. This plan emphasizes the development of high-value industries, human capital development, inclusive growth, and enhanced competitiveness.
In Penang, a RM100 million Strategic Investment Fund will be established to support semiconductor and advanced manufacturing companies. This initiative is expected to bolster Penang's position as a technology finance center and aid NCER's efforts to become a regional technology hub.
Kedah's Kulim Hi-Tech Park will continue to be a focal point for global semiconductor investments, strengthening the region's high-tech ecosystem and facilitating the creation of skilled job opportunities.
Infrastructure development in Perlis, including the Chuping Valley Industrial Area (CVIA) and the NCER Agribio Economic Zone, along with enhancements to the Perlis Inland Port, is anticipated to solidify the state's role as an ASEAN agrotechnology and cross-border trade hub.
Perak will see the development of Lumut Maritime Industrial City (LuMIC) and the Automotive Hi-Tech Valley (AHTV) in Tanjung Malim. These projects aim to strengthen the maritime, automotive, and future mobility ecosystems, create investment opportunities, and support local vendors.
NCIA welcomes a RM1.2 billion investment by Khazanah Nasional Bhd and the Retirement Fund Incorporated (KWAP) to boost local semiconductor companies, alongside the SemiconStart programme and various initiatives to develop start-ups and the AI industry. These measures are expected to enhance NCER's role in the semiconductor industry and support innovation through the NCER Technology Innovation Centre (NTIC).
The development of Malaysia's Sovereign AI Cloud, increased research funding, and efforts to train 200,000 AI professionals are also anticipated to position NCER as a regional hub for innovation and digital technology.