By: Rosli Mansor Ahmad Razali
Credit to The Star Online as the news source reference
Perak’s development is set for a significant boost with the introduction of two ambitious projects that aim to transform the state’s economy.
According to Perak State Development Corporation (PKNPk) CEO Datuk Redza Rafiq Abdul Razak, the Silver Valley Technology Park (SVTP) and Lumut Maritime Industrial City (LuMIC) are key initiatives that will enhance Perak’s economic infrastructure and address issues like urban sprawl by establishing focused economic hubs.
“SVTP and LuMIC are more than just developmental projects.
“They are integral to Perak’s strategic transformation, shaping it into a dynamic and prosperous state,” said Redza Rafiq.
Redza explained that Perak has faced various challenges tied to globalisation, such as economic concentration and population migration, which in turn have contributed to urban sprawl.
These projects, he added, are pivotal in keeping Perak relevant and resilient on the global stage by fostering diversified economic growth.
Historically, Perak’s economy was largely anchored in the tin mining and rubber industries, which, while initially prosperous, suffered from global market shifts and technological advancements.
The decline of these industries highlighted the need for a diversified economy and spurred significant changes in the state’s urban landscape.
SVTP aims to position Perak as a leading hub for technological innovation, attracting major tech firms and startups to foster a thriving ecosystem of high-tech development.
“As a state-of-the-art technology park, SVTP will focus on sectors such as mineral-based industries, electronics, pharmaceuticals, and the digital economy. This will provide local businesses with a platform to tap into the global tech market,” said Redza Rafiq.
On the maritime front, LuMIC is designed to strengthen Perak’s industrial and maritime sectors by creating a comprehensive maritime industrial park.
This development will feature advanced shipping facilities, logistics hubs, and industrial zones for heavy industries and maritime-related enterprises.
Positioned along one of Southeast Asia’s major maritime routes, LuMIC is expected to leverage Perak’s geographic advantage to attract international investors.
Both projects, Redza highlighted, also serve as a strategic call to Perak’s diaspora. By creating environments conducive to technological and industrial growth, SVTP and LuMIC offer incentives for Perak’s talent abroad to consider returning, thus enriching the state’s pool of skills and expertise essential for sustainable development.
“We will continue to drive these projects forward, as they are essential to establishing high-tech industries and maritime logistics as foundations of Perak’s future economy.
“These initiatives align closely with the goals of the Perak Sejahtera 2030 plan, promoting economic diversity and resilience to help the state navigate future economic challenges,” Redza Rafiq concluded.
