Iskandar welcomes 2011 budget allocation

26 October 2010 , By New Straits Times

ISKANDAR Malaysia will continue to prosper with a conducive business environment and better infrastructure following the RM339 million allocation as announced in the Budget 2011 recently.

Iskandar Regional Development Authority (Irda) chief executive Ismail Ibrahim (picture) said the allocation was in the right direction as Irda was overseeing various infrastructure developments, in line with its effort to enhance the business environment and provide quality life for the people.

For Johor Baru residents, the most visible on-going highway projects are the Eastern Dispersal Link (EDL), Johor Baru coastal highway, and upgrading of the Middle Ring Road.

On the abolishment of import duties for 300 goods to promote tourism, Ismail said this would add impetus to the Johor Premium Outlets in Kulaijaya, a one-stop place for branded goods sold at discount prices slated to open by the third quarter of 2011.

"This will further develop Iskandar Malaysia as a shopping destination," Ismail said.

He said the Kuala Lumpur International Financial District would bring global financial players to the country and indirectly make Iskandar Malaysia as an alternative location for business activities.

Ismail praised other allocations in the budget that focused on human capital development and support for industries in the oil, gas and energy industries.

"The allocation of RM29.3 billion for the Education Ministry, RM10.2 billion for Higher Education Ministry and RM627 million for the Human Resources Ministry augurs well to our (Iskandar Malaysia's) human capital initiatives."

He said the budget was also positive for the petrochemicals sector especially, in relation to the oil field services equipment sector in Johor.

He said the state's plan to be an Oil Field Services and Equipment (OFSE) hub would be further boosted with the RM146 million budget allocation.

He said overall, the people would benefit from the all-encompassing budget as there are measures to improve the livelihood of those from the lower income bracket, rural folk and women.