Malacca unveils plan to draw RM100b to new economic zone as tourism falters

Kuala Lumpur

THE Malaysian state of Malacca has unveiled an ambitious 15-year plan to develop a coastal economic zone aimed at boosting investment and counter the slump in tourism income due to the ongoing coronavirus pandemic.

The state authority is counting on the development to attract RM100 billion (S$32.3 billion) of high-impact, high-value investment in a bid to diversify the local economy from its dependence on tourism.