Thursday May 31, 2007
India keeping eye on developments in IDR
JOHOR BARU: India is closely watching how the Iskandar Development Region (IDR) project unfolds to study investment opportunities in the area.
Among the critical factors that will draw Indian investment is the range of infrastructure facilities for investors, said Federation of Indian Chambers of Commerce and Industry (FICCI) regional representative George Abraham.
However, most potential investors want to be sure that their money would not be stuck in areas where it would take a long time to generate returns on their investment.
“What is going to make the difference is how fast the infrastructure is going to be in place and how fast the one-stop agencies can work in bringing investments here,” Abraham said at a press conference after a briefing session on the IDR at Danga Bay yesterday.
FICCI represents some 250,000 of the biggest companies in India and some 500 chambers of commerce.
Meanwhile, Malaysian Associated Indian Chambers of Commerce and Industry president Pardip Kumar Kukreja called on the Government to create a fund for Malaysians investing in the IDR, with lower borrowing rates to increase local participation.
Members of the Malaysian Indian Business Association and the Global Organisation for People of Indian Origin were among those who attended the briefing.
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