KUALA LUMPUR: Iskandar Regional Development Authority (Irda) is on track to achieving an investment target of RM25bil for southern economic corridor Iskandar Malaysia this year.
Iskandar Malaysia saw accumulated new investments amounting to RM17.7bil for the first half of this year.
This makes the total secured investments to RM207.99bil for the period beginning 2006 until June 2016.
“Nearly 60% of the investors are foreigners, with the bulk of them being mainland Chinese investors investing in the property segment.
“We are hopeful of achieving the RM383bil investment target by 2025,” said Irda federal commissioner Nor Hisham Mohd Yusof at a briefing on Iskarnival 2016.
Irda is promoting nine sectors for investments but will focus heavily on the logistics and creative industries for the next six months.
The fifth installation of Iskarnival will take place in Iskandar Puteri, where Iskandar Malaysia will be the focal point of the carnival.
Jointly organised by Khazanah Nasional Bhd, UEM Sunrise Bhd , and Iskandar Investment Bhd, the carnival highlights arts, culture and creativity with the main objective of fostering community ties and socio-economic inclusiveness, important to the sustainable future of Iskandar Malaysia.
In conjunction with Iskandar Malaysia’s 10th anniversary, three uniquely themed festivals will be featured – Iskarnival Kreatif, Iskarnival Naratif and Iskarnival Sama-sama.
With an annual budget of RM5mil, this year’s expenditure will be spread across three festivals.
Visitors will not only be able to gain knowledge and be entertained during the festivals but also witness the developments that have taken place at Iskandar Malaysia for the last 10 years, spanning across various sectors.
Khazanah investments director Selvendran Katheerayson said Khazanah is happy to be part of Iskarnival 2016, which promotes social inclusion activities in Iskandar Puteri, in the collective effort to create a vibrant environment for the community.
He said the combined efforts of the federal and state governments, agencies, as well as private investors over the past years had translated into real progress on the ground, particularly at Iskandar Puteri.
“This year’s Iskarnival is unique because it provides Johoreans and the rakyat an artistic, creative and cultural platform for them to participate in leading to a rapid extension of economic opportunities and sustainable development for everyone in Iskandar Malaysia and Iskandar Puteri.
“As the master developer of Iskandar Puteri, we always look forward to creating lifestyles within our developments parallel with a creative and artistic lifestyle,” said UEM Sunrise managing director and CEO Anwar Syahrin Abdul Ajib.
Iskarnival 2016, which expects to receive RM100,000 visitors, will bring in a large pool of talents from all over Malaysia, hence exposing Iskandar Puteri to a wider audience.
The carnival spans across three weekends, each in the month of September, October and November.