Iskandar Malaysia Recorded RM9.33 billion Committed Investments for Quarter 1 2018

JOHOR BARU: Iskandar Regional Development Authority (IRDA) announced that Iskandar Malaysia recorded committed investments of RM9.33 billion in Quarter 1 of 2018, bringing the total cumulative committed investments to RM262.43 billion from 2006 until 31st March 2018.

Of this total, 59% or RM153.54 billion represent investments that have been realised.

To date, local investors had contributed RM160 billion (61%) to the total cumulative committed investments while the balance RM102 billion (39%) were contributed by foreign investors. The top five countries with highest cumulative committed investments into Iskandar Malaysia from 2006 to March 2018 are China, Singapore, USA, Japan, and The European Union.

Datuk Ismail Ibrahim, Chief Executive of IRDA said that this reflects continuous investor confidence in Iskandar Malaysia as it moves towards its long-term development objectives. This is also evident by the many visits to Iskandar Malaysia by various international parties.

IRDA received a visit by H.E Frédéric Laplanche, Ambassador of France to Malaysia with his entourage, which included senior representatives from various French companies, who were here to exchange experience and ideas in relation to the Smart City agenda.

Earlier in April, IRDA also received a visit by H.E Bai Tian, Ambassador of People’s Republic of China to Malaysia and his delegation, and this time around, the purpose of the visit was to explore business and investment potential in Iskandar Malaysia.

“Visits such as these provide us with the opportunity to further highlight Iskandar Malaysia’s many strengths and opportunities and also act as a platform to strengthen relationship and exchange knowledge with other international parties and global players, in line with the region’s vision to become the preferred destination to invest, work, live and play.”

These investments also continue to create more jobs. From 2007 to March 2018, a total of 746,457 jobs have been created in Johor and most of these came from the various sectors in Iskandar Malaysia including manufacturing, hospitality, food & beverage, and education.

In line with this, the public transportation system for this region will be enhanced by providing efficient and accessible public transport. Iskandar Malaysia will embark on the Bus Rapid Transit (BRT) system to accommodate the targeted increase in population of up to 3.0 million by 2025. The first phase of BRT will be ready by 2021.

Another important infrastructure enabler is connectivity and this will also be the focus in the third development phase as Iskandar Malaysia needs a smart ICT infrastructure to remain attractive to new and existing investors whilst convenience to the people of Iskandar Malaysia in as many ways possible.

Datuk Ismail added that for Iskandar Malaysia, the next seven years is not only about attracting new investments, but the investments must be inclusive in order for the local communities, businesses and talents to participate and reap benefits from the wealth generated from economic activities. With all these elements in place, the region will, in no time, achieve its vision of becoming a Strong and Sustainable Metropolis of International Standing.

Source: The Sun Daily