2018 Q3 RESULT SHOWS ISKANDAR MALAYSIA IS ON TRACK TO ACHIEVE RM383 BILLION TARGET BY 2025Iskandar Malaysia
ISKANDAR MALAYSIA, THURSDAY, 25 OCTOBER 2018: As Iskandar Malaysia sails through its third development phase from 2016 – 2025 focusing on Sustainability & Innovation, the region’s inflow of investments from domestic and foreign investors continues to grow.
“Iskandar Malaysia recorded a total of RM19.8 billion in investment from January 2018 until 30 September 2018, leading to a committed cumulative investment of RM272.90 billion from 2006 until 30 September 2018,” said Datuk Ismail Ibrahim, Chief Executive of IRDA.
Datuk Ismail said that despite the current global challenges, Iskandar Malaysia is on track and optimistic to achieve its investment target this year.
“For the 3rd quarter of 2018, the top five sectors that contributed to the total investments are mixed development with a total of RM9.7 billion and followed by Logistics (RM670 million), Creative (RM540 million), Education (RM540 million), and Tourism (RM320 million).
“Some of the recent investments in the promoted sectors in Iskandar Malaysia include the Shattuck St Mary’s Forest City International School by Country Garden Pacificview (CGPV) Sdn Bhd for, Tunku Laksamana Cancer Center (TUCC) by Asian American Medical Group (AAMG) and Toppen Shopping Centre by IKEA Southeast Asia,” added Datuk Ismail.
From the total of committed investment from 2006 until September 2018, 59% or RM161.33 billion has been realised of which a total of RM20.8 billion is realised investment for January until September this year alone.
Domestic investors contributed 60% to the total committed investment or equivalent to RM164.9 billion and the other 40% or RM108 billion comes from foreign investors. The top five foreign countries investing in the region are China, Singapore, USA, Japan and Spain. From the total of foreign investments, 57% is in Services Sectors and 43% 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,” added Datuk Ismail.
This was echoed at the recent Iskandar Malaysia Employment Fair where more than 1,000 jobs were offered in the region for the Rakyat. Since 2006, Iskandar Malaysia has created more than 740,000 jobs in the region.
Globally, awareness and interest in Iskandar Malaysia had grown to be more than just about investment as the region is also being recognized for its extensive environmental efforts.
This was reflected when Iskandar Malaysia participated in the 11th Asia-Pacific Regional Centre of Expertise (RCE) Meeting in Parramatta, Australia and won the ‘Education for Sustainable Development (ESD) Okayama Award 2018’ from Okayama City in Japan recently. Iskandar Malaysia was also present at the 4th International Conference On Low Carbon In Asia, organized in Johor Bahru.