KUALA LUMPUR (THE STAR/ASIA NEWS NETWORK) - Pahang, Terengganu and Kelantan will achieve additional economic growth once the East Coast Rail Link (ECRL) project is completed, Prime Minster Najib Razak said on Tuesday (Aug 8).
He said that the states were expected to achieve one per cent to 1.5 per cent in additional growth per year from the project, which he will launch in Kuantan on Wednesday.
"This project will be a game-changer for the east coast states," he said during his keynote address at the National Chamber of Commerce and Industry of Malaysia (NCCIM) Economic Forum 2017.
Datuk Seri Najib added that the long-term loan Malaysia received from China for the project was offered at a very competitive rate.
He also said that it was the leadership's responsibility to protect the interest of Malaysians and local businesses.
The prime minister said that the same opposition politicians who warned about Chinese investments were the ones who wanted to abolish the Goods and Services Tax, with no answer as to how they would find RM41 billion (S$13 billion) in revenue that the tax brought in last year.
Calling them scaremongers, Najib said that the government would continue its reform programme and ensure Malaysia continues its journey towards becoming a high-income nation.
China's State Councillor Wang Yong will attend the ECRL ground-breaking ceremony on Aug 9 as the special representative of President Xi Jinping, Bernama news agency reported.