Iskandar draws RM61b investments

15 July 2010 , By New Straits Times

ISKANDAR Malaysia continues to attract local and foreign investors despite scepticism among certain quarters that the economic region has yet to rake in much investment.

Menteri Besar Datuk Abdul Ghani Othman yesterday told the assembly that total investments in the development corridor now stood at RM60.9 billion, following an increase of RM5.3 billion in the past six months.

Ghani, who was replying to a question by Datuk Osman Sapian (BN-Kempas) on an
update for Iskandar Malaysia, said the investments were made mostly in industrial, infrastructure and property sectors.

He said 45 per cent of the total investments is from foreign investors, while the rest were from locals.

“This also shows that the locals are interested in investing in Iskandar Malaysia,” said Ghani, adding that some RM2.9 billion of the total investments were from government- linked companies.

Ghani also dismissed the notion that investors from Singapore had no interest in
Iskandar Malaysia.

He was replying to a supplementary question from Ong Kow Meng (DAP-Senai) on

whether enough had been done to woo investors from the republic.