Iskandar Malaysia attracts RM273b investments

Iskandar Malaysia attracts RM273b investments

JOHOR BARU,. Iskandar Malaysia recorded investments totalling RM19.8 billion in the first nine months of this year, raising the cumulative investments committed since 2006 to RM272.90 billion.

In a statement today, Iskandar Regional Development Authority Chief Executive Datuk Ismail Ibrahim said despite the current global challenges, Iskandar Malaysia was optimistic and on track to achieve its investment target for 2018.

“As Iskandar Malaysia sails through its third development phase (2016-2025) focusing on sustainability and innovation, the region’s inflow of investments from domestic and foreign investors continues to grow,” he said.

Ismail said in the third quarter of this year, the top five sectors contributing to total investments were mixed development with RM9.7 billion, logistics (RM670 million), creative (RM540 million), education (RM540 million) and tourism (RM320 million).

He said recent investments in the promoted sectors in Iskandar Malaysia included the Shattuck St Mary’s Forest City International School by Country Garden Pacificview Sdn Bhd, Tunku Laksamana Cancer Centre by Asian American Medical Group and Toppen Shopping Centre by IKEA Southeast Asia.

Of the total committed investments from 2006 to September 2018, 59 per cent or RM161.33 billion has been realised. A total of RM20.8 billion was realised in the first nine months of this year alone, he noted.

“Domestic investors contributed 60 per cent to the total committed investments or equivalent to RM164.9 billion and the other 40 per cent, or RM108 billion, comes from foreign investors. The top five foreign countries investing in the (Iskandar) region are China, Singapore, the United States, Japan and Spain.

“Of the total foreign investments, 57 per cent is in services sectors and 43 per cent is in manufacturing. This inflow of investment will continue to benefit the rakyat in many different ways, such as more job and business opportunities, as being inclusive has always been at the heart of the development in Iskandar Malaysia,” said Ismail.

He added this was reflected by the recent Iskandar Malaysia Employment Fair, where more than 1,000 jobs were offered in the region, and the creation of more than 740,000 jobs in Iskandar Malaysia since 2006. ? Bernama