(This post is brought to you by Iskandar Regional Development Authority)

Iskandar Malaysia has recorded a total cumulative committed investment of RM105.14billion, with 42% being realised as of November 2012.

Prime Minister Dato’ Sri Najib Tun Razak, who made the announcement at a meeting held on 11 December, explained that, for the first eleven months of 2012, Iskandar Malaysia had recorded a success of RM20.36billion of committed investments. The core sectors propelling the strong growth are Properties (including commercial, retail, and industrial), Manufacturing, and Utilities.

“I am pleased with the corridor’s performance,” he said, “especially in witnessing the realisation and operations of catalytic projects in 2012 of tourism sector of Legoland Malaysia and the Puteri Harbour Family Theme Park, the success of Educity, namely Newcastle University, University of Southampton Malaysia Campus, and Raffles University Iskandar, other educational institutions such as Marlborough College and Raffles American School and, most excitingly, retail sectors of KSL, Medini Lifestyle Retail Mall, and Galleria @ Kota Raya adding to the vibrancy of domestic consumption.

“I am also most proud that through IRDA (Iskandar Regional Development Authority), Iskandar Malaysia has taken a strong position in Green and Sustainable development.

“Today, the MOA members endorsed the launch of Low Carbon Society blueprint COP18 in DOHA on 30 November. All these have reinforced the investor value proposition of Iskandar Malaysia and would certainly spur the interest and attraction for even more investments into Malaysia,” said Dato’ Sri Najib after the IRDA Members of Authority (MoA) meeting.

Dato’ Sri Najib and Johor Menteri Besar Dato’ Haji Abdul Ghani Othman, co-chaired the meeting and were updated on several matters pertaining to the corridor’s development, including the performance and achievements to date.

Dato’ Haji Abdul Ghani said the growth of investments in Iskandar Malaysia has generated an increase in economic activities and, correspondingly, further demand for employees from Johor.

“It is estimated that 154,000 jobs have been created in the Manufacturing and Service sectors from 2006 to 2012,” said Dato’ Haji Abdul Ghani, who also added that he was proud that the early success and focus on Safety and Security in Iskandar Malaysia has saw a 24% drop in street crime and 10% drop in index crime in 2012 compared to October 2011.

It was also noted that, of the total cumulative committed investments, 64% (RM67.69bil) are domestic investments while 36% (RM37.45bil) are foreign investments.

Meanwhile IRDA Chief Executive Datuk Ismail Ibrahim said the Creative, Healthcare, Financial Services, and Logistics sector would be the magnet for new investments in the year 2013 to 2015.

“This is in support of the inaugural opening of Pinewood Iskandar Malaysia Studios and inertia of the Healthcare and Wellness Project. We are also preparing Iskandar Malaysia to increase tourist excitement in 2013-2015 with the ongoing development additions to Legoland Malaysia, Kota Iskandar development, Johor Premium Outlets, and the Puteri Harbour, to name a few.

“The current, positive investors’ response and the attention showered by the local and international business fraternity, associations, and councils have been a great platform for Iskandar Malaysia,” said Datuk Ismail.

He said the country’s recent achievements – becoming the ninth most visited country in the world, the 10th friendliest nation, and ranked 18th for Ease of Doing Business – were the results of clear, focused, and consistent government programs aimed at making Malaysia a country to reckoned with. This will further assist Iskandar Malaysia’s proposition as the investor’s destination of choice.

Iskandar Malaysia’s close location to Singapore adds an interesting element to the business, connectivity, and infrastructure and, to date, Singapore investment ranks first.

Datuk Ismail reiterated that, while it was an advantage, IRDA was well aware of the need to make the Iskandar Malaysia economic corridor story relevant and unique in order to stand out from the region’s heavyweights (Jakarta, Thailand, Hong Kong), especially considering the current market uncertainty and weak economic indicators.

“We believe the overachievement of the RM100billion milestone is not just IRDA’s effort alone, but through a great understanding from and the collaboration of Federal and State agencies, critical catalytic developer’s pursuance of Nusajaya greenfield master plan development, and the JB city redevelopment,” Datuk Ismail explained.

“Both the domestic investors and SME support and believe in the same vision, and drive for Iskandar Malaysia to be on track and poised for further growth stories,” Datuk Ismail concluded.

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Iskandar Regional Development
Authority (IRDA); G-01, Block 8,
Danga Bay, Jalan Skudai, 80200
Johor Bahru
Tel: 07.233 3000
Fax: 07.233 3001

For further information, please visit:
Iskandar Malaysia Information Centre (IMIC);
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Convention Centre, Jalan Skudai,
80200 Johor Bahru, Malaysia
OR Contact our Customer Service Hotline Toll Free: 1-800-88-3010
Email: [email protected] Web: www.iskandarmalaysia.com.my All assistance is given free of charge.

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Source: The Expat January 2013

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