Details of perks for Iskandar region out by end-month

URUMQI (China): Incentives for the Iskandar Development Region (IDR) will be fleshed out in detail and announced by the end of this month, said Johor Menteri Besar Datuk Abdul Ghani Othman who is also expecting IDR to rein in several more investments before year-end.
“They will be made more clear and precise. I would imagine some investments would be tailor-made for the incentives,” he said.

The full perks will be laid out for all six service sectors — creative industries, education, financial advisory and consulting, healthcare, logistics, and tourism.

The IDR board co-chaired by Prime Minister Datuk Seri Abdullah Ahmad Badawi and Abdul Ghani is scheduled to meet on September 24.

Abdul Ghani is here for a three-day business and cultural mission with the Malaysia-China Business Council to enhance links with the Xinjiang region. In his delegation is Iskandar Development Region Authority (IDRA) chief executive officer Datuk Ikmal Hijjaz Hashim.

IDR made headlines recently by attracting RM4.1 billion from a Middle East consortium for the first of three nodes of the project and more investments are tipped in view of the keen interest expressed by international investors.

Asked when he expects the next tranche of overseas investment, Abdul Ghani said: “We should be able to have more conclusive discussions, another few more before the end of the year from the Middle East and other parts of the world.”

He said a mission would be sent to China, most likely to Shanghai, because the IDR has caught the eyes of tourist related and real estate developers, including the Shimao Group owned by China’s ninth richest tycoon Hui Wing Mau who made a special trip to Johor to size up its potential.

“We would love to have the Chinese to come to IDR. We had very positive feedback from them after the Malaysia-China Business Council meeting in Johor Baru, where they saw the potential for themselves,” Abdul Ghani said. — Bernama

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