ISKANDAR MALAYSIA KICKED OFF Q1 2019 WITH RM7.7 BILLION IN COMMITTED INVESTMENTS, STRENGTHENED COMMITMENT IN SMART CITY AND ENVIRONMENTAL AGENDASIskandar Malaysia
ISKANDAR MALAYSIA, 24 APRIL 2019, WEDNESDAY: Menteri Besar of Johor, YAB Dato’ Dr. Sahruddin Jamal, announced that Iskandar Malaysia had recorded committed investments of RM7.7 billion in the Q1 of 2019.
This brings the total cumulative committed investments from 2006 until 31 March 2019 to RM293 billion where 57%, or RM166 billion, represent investments that have been realized.
While the Manufacturing sector continues to be the biggest contributor, the following 4 promoted sectors are also seeing positive growth namely Logistics (RM 8.56 billion), Tourism (RM 7.86 billion), Healthcare (RM 4.41 billion) and Education (RM 3.29 billion).
The soft opening of R&F Mall and Capri by Fraser Residence in the Johor Bahru city centre plus XPark in Sunway Iskandar, completion of Legoland Malaysia’s Sea Life attraction and the launch of Johor Premium Outlet’s (JPO) 3rd Phase in Q1 2019 amplified the excitement in the Tourism sector.
To date, local investors had contributed 62% to the total cumulative committed investments while the balance 38% was contributed by foreign investors. The top five countries with the highest cumulative committed investments into Iskandar Malaysia from 2006 to March 2019 are China, Singapore, USA, Japan, and Spain.
”This reflects continuous investor confidence in Iskandar Malaysia, and the state of Johor, as it grows to be a Strong and Sustainable Metropolis of International Standing. This is also evident by the many visits to Iskandar Malaysia by various international parties,” explained Dato’ Dr. Sahruddin during his first official visit to IRDA as Menteri Besar of Johor.
Datuk Ismail Ibrahim, Chief Executive of Iskandar Regional Development Authority (IRDA) added, “Iskandar Malaysia continues to welcome all foreign investments that are aligned to its nine promoted economic sectors and those that provide spill-over effect to the economy, environment and social agendas of the region.”
In Q1 2019, Medan Selera Iskandar Malaysia (MSIM) was officially opened to the public. Located in Gelang Patah, this food court offers various local food and beverages and is a social initiative that provides a platform for local entrepreneurs.
Pushing its Low Carbon Society agenda even further, Iskandar Malaysia hosted the ‘Global Covenant of Mayors and Energy’, which saw more than 150 practitioners from around the world converging to discuss and take actions on climate change, in the same quarter.
Just a month before that, Iskandar Malaysia strengthened its status as a leader in Smart City as it participated in the ‘Malaysia Urban Forum 2019’ in Kuala Lumpur to share and showcase its successful urbanization programmes to around 10,000 visitors.
According to Datuk Ismail, for the rest of 2019 IRDA will put more focus on the logistics and tourism sectors where businesses and the people alike can expect to enjoy more benefits from these sectors.