The Multimedia Super Corridor is hoping to achieve a target of 75 world-class companies by the end of year 2003, the Energy, Communications and Multimedia Ministry said in Parliament today.

The ministry said 50 world-class companies have been conferred MSC status and according to their respective business plans, their accumulated investment up to this year amounted to RM500 million.

Each company is expected to invest more than RM10 million in the MSC, the ministry added.

"To develop the MSC, the Multimedia Development Corporation has been set up. Its role is to attract investment in the MSC and one of the incentives to attract investment is the government's Bill of Guarantees," said the ministry in a written statement to the Dewan Rakyat.

The 10-point Bill states, among others, the government's commitment to ensure freedom of ownership; provide competitive financial incentives; become a regional leader in intellectual property protection and cyberlaws; and ensure no Internet censorship.

More development

The ministry was responding to a question from Mohd Apandi Haji Mohamad (PAS-Jeli), who asked the government to itemise the costs of infrastructure, human resource development and equipment out of the RM14 billion already spent on the MSC since 1996.

Mohd Apandi had also asked the government to state the amount of investment made by the 46 world-class companies such as Microsoft, Oracle, Sun Microsystem, CICSO, IBM, Hewlett Packard and Softbank.

In reply, the ministry refuted Mohd Apandi's claim that the government had spent RM14 billion on the MSC.

Meanwhile, the ministry said the MSC has injected more development through projects such as the Kuala Lumpur International Airport, Kuala Lumpur City Centre, and several telecommunications and road projects.

"In the MSC, there are also development projects in Cyberjaya which are managed by the private sector and do not involve government allocation," said the ministry.