Iskandar Malaysia continues to attract capital 11 years on

on 01 April, 2017

WCT in the News: The Star Online, 01 April 2017

Iskandar Malaysia has come a long way. Since the economic region was launched back in 2006, it had attracted RM222.4bil as at the end of last year.

Of the amount, more than half have been realised. Last year, it attracted RM32bil and this year, despite global economic uncertainties, it hopes to attract more than the target of RM27bil.

Iskandar Regional Development Authority (Irda) chief executive Datuk Ismail Ibrahim remains hopeful for investments into the region despite the climate of investments not being as rosy.

Even International Trade and Industry Minister Datuk Seri Mustapa Mohamed had admitted earlier that there would likely be a decrease in investments this year for the manufacturing and services sectors for the country as a whole.

Irda aims to reach an investment target of RM383bil by 2025. To do so, the Government has promised various incentives and tax breaks for investors, both local and foreign, to invest in the region’s 2,217 sq km, which has been divided into various zones for housing, industrial and commercial activities.

Iskandar Investment Bhd president and CEO Datuk Khairil Anwar Ahmad points out that the education industry has also grown.

Read More: The Star Online