Iskandar posts RM188bil in cumulative committed investments - Business News | The Star Online

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Iskandar posts RM188bil in cumulative committed investments


PUTRAJAYA: Iskandar Malaysia, the main southern development corridor in Johor, recorded RM187.96bil in total cumulative committed investments from 2006 until November 2015, according to the Iskandar Regional Development Authority (IRDA). 

Of the total amount, 50% or RM93.39bil represents investments that have been realised as projects on the ground, IRDA said in a statement issued after the members of IRDA meeting chaired by Prime Minister Datuk Seri Najib Tun Razak here today. 

IRDA, which is mandated to plan, promote and facilitate the Iskandar Malaysia development said Iskandar Malaysia secured RM29.83 billion in investments from January until November this year. 

It said domestic investments made up RM111.82bil or 59% of the total cumulative committed investments, while the remaining RM76.14bil or 41% was contributed by foreign investments. 

"Among promoted sectors, the manufacturing sector registered the highest cumulative committed investments at RM52.10bil. The investments came from electrical and electronics, petrochemical and oleochemical, and agro and food processing sectors," the statement said. 

These were followed by logistics (RM5.70bil), tourism (RM3.10bil), health care (RM2.77bil), education (RM2.06bil), consulting services and financial advisory (RM0.74bil), and creative industry (RM0.56bil).

Other sectors that support Iskandar Malaysia growth were the residential segment, retail and industrial segments which collectively contributed to cumulative investment of RM96.13bil as at Nov 20, followed by utilities (RM12.96bil), government investments focusing on infrastructure and public works (RM8.99bil), and latest technologies (RM2.85bil). - Bernama

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