ECER Seeks Potential Investors To Develop Herbal Parks

**Admin** Thu Apr 21, 2011 6:03 am

Economic Region Development Councilis eyeing for potential investors to develop herbal parks under the East CoastEconomic Region (ECER) herbal plantation project.

The parks are in Pasir Raja, Dungun, and Chegar Perah in Lipis, Pahang, for phase one and in Durian Mentanga in Dungun and Rantau Manis in Gua Musang for phase two.

Chief Executive Officer Datuk Jebasingam Issace John said local, international and joint-venture companies are welcomed to participate in the development of ECER's herbal plantation projects.Via these projects, he said, it is expected to generate a gross national income amounting to RM3.25 billion by 2020, while creating over 2,500 new jobs and 530 contract farmers.

"The council will provide the infrastructures for the projects, starting with phase one expected to be ready by the first quarter of next year, while phase two is expected to roll out in 2013-2014." he said in a statement today.

Under the project, the council will appoint selected anchor investors, who will helm business activities along the herbal cluster value chain in ECER.

The anchor companies will also provide training for contract and satellite farmers to ensure higher crop output through the use of technology.

"They also will provide buy-back service to contract and satellite farmers to ensure marketability of their crops at a fair price, while anchor companies will enjoy various incentives given by the government.

"We are also seeking other players to take part in the upstream, midstream and downstream herbal-related activities in ECER," he said.ECER is poised to tap into the herbal market which the World Health Organisation (WHO) has predicted will hit a value of US$5 trillion by 2050. -- BERNAMA