IRDA targets RM30 billion new investments for Iskandar Malaysia

ISKANDAR PUTERI: The Iskandar Regional Development Authority is targeting to attract RM30 billion in new investments into Iskandar this year.

CEO Datuk Ismail Ibrahim said the target could be achieved as the development authority managed to record RM32.23 billion in investments last year.

“We are very optimistic on hitting the target. We will work closely with the state government and the private sector to ensure not only that investments are brought into the state but they also create more employment and business opportunities for locals.

“The cooperation will ensure that investments originate from desirable sectors such as tourism, logistics, health, the creative industry, finance and education,” he told reporters after attending IskandarSpace’s first anniversary celebration today.

Ismail said the six sectors saw a 16% growth in investments compared with 2017.

“For example, the tourism industry attracted RM1.94 billion in investments while the education sector took in RM940 million.

“This development (in investments) will definitely attract the interest of entrepreneurs and those who are just venturing into business to set up their enterprises in Iskandar Malaysia,” he said.

Ismail said on the whole, Iskandar Malaysia recorded committed investments totalling RM285.34 billion from 2006 to Dec 31, 2018.

“Local investments contributed 62% or RM177 billion of total investments,” he added.

Also present at the anniversary celebration were State International Trade, Investment and Utilities Committee chairman Jimmy Puah Wee Tse and Iskandar Investment Bhd chief executive officer Datuk Ir Khairil Anwar Ahmad.

Source: The Sun Daily

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