Irda is in talks with potential overseas investors - Business News | The Star Online

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Irda is in talks with potential overseas investors


  • Economy
  • Wednesday, 4 Nov 2015

KUALA LUMPUR: The Iskandar Regional Development Authority (Irda) says it is in talks with potential investors from Europe, North America and the Far East, who are keen to participate in the development of Iskandar Malaysia.

Chief executive Datuk Ismail Ibrahim said the potential investors were from the food processing, logistics and financial services industries, the new focus sectors of the region.

In an interview with Bernama, he said Irda was gearing efforts to attract players from such sectors, especially the local small and medium-sized enterprises (SMEs), in a move to emulate other succcesful sectors in the region.

In total, there are 69,000 registered SMEs operating in Iskandar Malaysia.

“The most prominent sector probably is in the area of logistics. We are looking at enhancing Iskandar Malaysia’s role not only as a user of ICT, but to reposition ourselves as a provider of ICT. 

“This means we are now a step forward with the recent announcement by Telekom Malaysia Bhd which is setting up their data centre and a private company that also wants to set up their data centre,” he said.

Telekom Malaysia on Tuesday sealed a partnership with Medini Iskandar Malaysia Sdn Bhd to jointly set up a managed services operating company.

The joint-venture company will provide smart building services and smart city services in Medini, Nusajaya.

Having recorded RM27bil in investments, as of September 2015, Iskandar Malaysia is on track to achieve its RM30bil target despite a slowdown in investments recorded in some sectors, thanks to its diversification move.

“The other sectors would continue to grow. Constant growth, which we have witnessed over the last nine years, has hovered around 7% to 8%. This is continuing to happen in spite of the recession that takes place from time to time,” he added.

Since its inception, the region has secured a total RM185bil in investments, with 51% coming from local investors.

More than RM52bil were invested in the manufacturing sector. - Bernama

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