Shahrir Proposes "Joint Ownership" Concept For Iskandar Malaysia

JOHOR BAHARU, Aug 3 (Bernama) — Johor Baharu Member of Parliament Datuk Shahrir Abdul Samad has proposed a "joint ownership" concept to provide for greater participation by the local people in the Iskandar Malaysia development region in Johor.

The development of the region was not merely a question of foreign investment because such investment also needed support in terms of the participation and resources of Malaysians, he told reporters after a dialogue with the Association of Traders and Lessees of the Larkin Public Transportation Terminal, here yesterday.

Iskandar Malaysia, a 2,217 sq km development corridor, has so far attracted RM33 billion in investment, making up 70 per cent of the RM47 billion investment needed to develop the region.

In his speech earlier, Shahrir, who is Domestic Trade and Consumer Affairs Minister, expressed disappointment over the seemingly lack of benefits in Iskandar Malaysia for the local small trader.

He said he would convey this matter to the Iskandar Regional Development Authority (IRDA), which is empowered to plan, promote, process, stimulate, facilitate and undertake development in the region.