Iskandar Malaysia attracts RM77.82 billion cumulative investments

18 October 2011, By IRDA

SINGAPORE, Tuesday, 18 Oct 2011: As of September 2011, ISKANDAR MALAYSIA has recorded a total cumulative committed investment of RM77.82 billion from various sectors (from year 2006).

Of this total, 60% (RM46.63 billion) are domestic investments while the remaining 40% (RM31.19 billion) are foreign investments. This is indicative of the gradual shift from a dependence on foreign investors to being a domestic enterprise driven metropolis. The figures also reflect the confidence domestic investors have in ISKANDAR MALAYSIA, as well as ISKANDAR MALAYSIA’s appeal to both foreign and local investors.

ISKANDAR MALAYSIA anticipates a more intensive participation by small and medium enterprises (SMEs) in the economic development of the region following new funding support for the SMEs announced in Malaysia’s 2012 Budget by the Prime Minister, Y.A.B. Dato’ Seri Najib Tun Razak on 7 October 2011.

Iskandar Regional Development Authority (IRDA) Chief Executive Ismail Ibrahim expects the sharia-compliant SME Financing Fund (to be established under the 2012 Budget) totalling RM2 billion to be a significant support for SMEs in the manufacturing, services and property sectors. IRDA which is the platinum sponsor of Global Entropolis@Singapore, is committed to reaching out to the region for awareness and to woo new investors.

Under ISKANDAR MALAYSIA’s Development Roadmap, 2006-2010 was the planning phase of the development. Currently ISKANDAR MALAYSIA is in its second phase – Strengthening and Generating Growth where the success of which will be based on the completion of its key developments.

2012, has also been earmarked as the Tipping Point for ISKANDAR MALAYSIA, when a number of catalytic projects in education and tourism sectors, such as Educity and LEGOLAND, will be completed and commence operations. Such developments and business ventures require upstream and downstream support throughout their respective value chains, and this is where the SMEs will complete the ecosystem.

The success of the catalytic projects will help make ISKANDAR MALAYSIA more attractive for investments, and the SME Financing Fund will be a good funding support for the SMEs to participate in the regional economy.

The ISKANDAR MALAYSIA development is projected to create 850,000 employment opportunity by the time the development project reaches maturity in 2025. Since its inception, a total of 20,000 jobs had already been created.

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About IRDA

The Iskandar Regional Development Authority (IRDA) is the regulatory authority mandated to plan, promote and facilitate the development of ISKANDAR MALAYSIA into a strong and sustainable metropolis of international standing, where living, working, business and leisure converge seamlessly. For media inquiries, kindly contact Norhayati Sulaiman-Adzhar at 019-700 7877 or Marsha Tan at 019-777 8475.