FMT:
Better options for Kelantan’s economy than rare earth, say economists
They say state must look beyond the potentially damaging rare earth mining if it wants to spur economic growth.
Last week, PAS vice-president Amar Nik Abdullah said Kelantan has the potential to become a wealthy state by mining rare earth elements worth nearly RM125 billion. (Facebook pic)
PETALING JAYA: Economists have urged the Kelantan government to focus on economic activities that are more value-added and generate multiplier effects compared with rare earth mining.
Shankaran Nambiar of the Malaysian Institute of Economic Research (MIER) said the state must look beyond rare earth mining if it wanted to spur economic growth.
“They may want to promote agriculture and should also emphasise the adoption of advanced farming technologies,” he told FMT.
Last week, PAS vice-president Amar Nik Abdullah said Kelantan has the potential to become a wealthy state should the Islamic party remain the state government, due to its abundance of rare earth elements.
He said, however, the management and policies regarding rare earth elements, which are worth nearly RM125 billion, need to be streamlined to benefit Kelantan.
In November last year, former energy and natural resources minister Takiyuddin Hassan was quoted as saying that three districts in Kelantan had the potential for rare earth mining, namely Tanah Merah, Gua Musang and Jeli.
Meanwhile, Sunway University’s Yeah Kim Leng urged the Kelantan government to shift its focus towards developing eco-tourism and industrialisation, which would be boosted by the construction of the East Coast Rail Link (ECRL).
He said the state government should leverage the connectivity provided by the ECRL to attract more local and foreign investors to encourage development in Kelantan.
“The state government must exercise caution with mining rare earths considering the potential of its impact on the environment. It might exacerbate issues caused by deforestation and excessive logging,” he said.
Yesterday, Bernama reported that the construction of the ECRL in Kelantan was expected to be completed six months ahead of schedule, in January 2027. State public works department (JKR) deputy director Nik Soh Yaacoub said the project was about 62% complete.
The 665-km rail project connects Kelantan with Terengganu, Pahang and Selangor.
PETALING JAYA: Economists have urged the Kelantan government to focus on economic activities that are more value-added and generate multiplier effects compared with rare earth mining.
Shankaran Nambiar of the Malaysian Institute of Economic Research (MIER) said the state must look beyond rare earth mining if it wanted to spur economic growth.
“They may want to promote agriculture and should also emphasise the adoption of advanced farming technologies,” he told FMT.
Last week, PAS vice-president Amar Nik Abdullah said Kelantan has the potential to become a wealthy state should the Islamic party remain the state government, due to its abundance of rare earth elements.
He said, however, the management and policies regarding rare earth elements, which are worth nearly RM125 billion, need to be streamlined to benefit Kelantan.
In November last year, former energy and natural resources minister Takiyuddin Hassan was quoted as saying that three districts in Kelantan had the potential for rare earth mining, namely Tanah Merah, Gua Musang and Jeli.
Meanwhile, Sunway University’s Yeah Kim Leng urged the Kelantan government to shift its focus towards developing eco-tourism and industrialisation, which would be boosted by the construction of the East Coast Rail Link (ECRL).
He said the state government should leverage the connectivity provided by the ECRL to attract more local and foreign investors to encourage development in Kelantan.
“The state government must exercise caution with mining rare earths considering the potential of its impact on the environment. It might exacerbate issues caused by deforestation and excessive logging,” he said.
Yesterday, Bernama reported that the construction of the ECRL in Kelantan was expected to be completed six months ahead of schedule, in January 2027. State public works department (JKR) deputy director Nik Soh Yaacoub said the project was about 62% complete.
The 665-km rail project connects Kelantan with Terengganu, Pahang and Selangor.
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