Steps up initiatives to prepare the region for investors who seek to start, rebuild or expand business and operations during or post COVID-19 pandemic
Iskandar Malaysia, 20 June – Iskandar Malaysia saw the completion of investment projects worth RM7.33 billion between January to April 2021 with 20% involving domestic investors and the other 80% from foreign investors.
Datuk Ismail Ibrahim, Chief Executive, Iskandar Regional Development Authority (IRDA) said, “This realised investment is a positive indication that Iskandar Malaysia still retains the trust of the investors. We hope this confidence will continue and encourage other investors to see the region as an ideal platform to start, rebuild or expand their business and operations during or in preparation of the post-COVID-19 pandemic.”
“We greatly appreciate Malaysia Investment Development Authority’s (MIDA) support and approval of the manufacturing projects in Iskandar Malaysia and look forward to the delivery of these projects this year despite the present challenges. Last year in 2020, the projects that were approved to be developed in this region included those from China, Japan and Singapore.”
The 3 top approved industries were Transport Equipment, Electrical & Electronics and Machinery and Equipment.
Overall, Iskandar Malaysia’s Total Cumulative Recorded Investment reached RM341.4 billion since 2006 to date with 61% of this has been realized.
The 61% realised investment above, amounting to RM209.9 billion, is led by the Manufacturing sector followed by the Logistics, Tourism, Creative Services and Healthcare Services sectors.
Iskandar Malaysia continues to present itself as the preferred investment destination for investors who seek to start, rebuild or expand their business and operations during and post COVID-19 pandemic by taking several initiatives that can help these investors to embark their interest in the region quickly.
Datuk Ismail explained, “Early this year we announced about our venture into modern farming as a new promoted economic sector in the region. We are excited and convinced that this can be achieved because there is a genuine need to improve food security and a huge demand for continuous food supplies for the country and our neighbour, Singapore.”
“With the abundance of land in Johor and the state’s ambition to become a ‘Food Bank’ plus Iskandar Malaysia’s strong Smart City core, we would like to welcome investors and partners to the region to work together in developing, driving and benefiting from the modern farming initiative.”
Iskandar Malaysia is also developing several programmes to build and strengthen the human capital resources in the region under its SECURE@IskandarMalaysia initiative. Specific programmes such as the ‘IM Medical Sector Upskill’ programme aims to strengthen workers advantages in the healthcare services sector while the ‘Community Capacity Building’ programme helps to boost individuals’ skills and adaptability to the various opportunities that may spill over from the investments the come into the region.
These ready human capital resources will be beneficial to both domestic and foreign investors who are seeking to quickly get their foot on the ground and start their business and operations in the region.
Partners in Iskandar Malaysia such as government agencies and authorities, developers, healthcare services providers, educational services providers, tourism industry players are also ramping up their activities to not only maintain operations and offerings during the pandemic but also continue creating and adding value to what the region can offer to investors, visitors and locals alike.
Datuk Ismail said that he is grateful to all these partners who continue to build, develop and create platforms and opportunities such as special technology zone, the digitalization of services, job and entrepreneurship openings, and various development programmes that all add up to the attractiveness of Iskandar Malaysia.
“Our end game is always to get the Rakyat to benefit from the investments and the development that have been and will continue to happen in Iskandar Malaysia. This responsibility falls on all the stakeholders be it from the government and private sectors, and the community to work together. We need to our best to prevail over the pandemic and be ready to step up post-pandemic whether to welcome investors, start a business, get a job or even maintain our standard of living,” said Datuk Ismail.