ISKANDAR MALAYSIA Secures New Investment in 1st Q 2012 of RM2.78Billion

04 May 2012, By IRDA

ISKANDAR MALAYSIA, THURSDAY, 26th APRIL 2012: Chief Executive of Iskandar Regional Development Authority (IRDA) Ismail Ibrahim today announced that the cumulative committed investment into ISKANDAR MALAYSIA has reached RM87.56 billion in various sectors for the period of 2006 – March 2012 with 43% of the committed investments already realised.

For year 2012 alone, as of March, ISKANDAR MALAYSIA has recorded a total cumulative committed investment of RM2.78 billion.

“ISKANDAR MALAYSIA is continuing its drive to the development of a thriving and sustainable modern metropolis in this southern part of Johor,” said Ismail

“I am very encouraged by this strong demonstration of the support from the private sector participation, domestically and overseas.

This will be able to add momentum to ISKANDAR MALAYSIA’s push despite the uncertainty of the global investment climate and the forecast of slow down due to the current global economic uncertainties.

Ismail pointed out that there was a need to target investors from the Asia Pacific and focus on strengthening ISKANDAR MALAYSIA-Singapore partnerships in identified growth sectors that can bring mutual benefit for economic symbiotic growth.

“Further infrastructure improvements in connectivity between JB (Johor Bahru) and Singapore will also help create a mutually beneficial economic unit”, he reiterated.

He further highlighted that of the total cumulative committed investments of RM87.56 billion; 61% (RM53.35 billion) are domestic investments while the remaining 39% (RM34.21 billion) are foreign investments.

“We continue to encourage the domestic investors to intensify their current investment for both new and reinvestments,” Ismail added.

He stressed that ISKANDAR MALAYSIA investment must continue to sustain and attract a steady flow of domestic and foreign investments despite operating in a very competitive economic environment.

This is critical in achieving ISKANDAR MALAYSIA‘s goal for jobs creation and GNI impact as per the key outcome in 2025.

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, more than 20,000 jobs had already been created.

To date, ISKANDAR MALAYSIA’s top foreign investors hail from Asia and Europe.

EDL (Eastern Dispersal Link) road connectivity was opened in April 2012 and ISKANDAR MALAYSIA is looking forward to create a tourist hub with the opening of LEGOLAND Malaysia and Theme Attractions in Puteri Harbour in the 4th Q 2012.

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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.

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