Irda confident of hitting RM383bil target by 2025

  • Business
  • Saturday, 03 Oct 2015

JAKARTA: The Iskandar Regional Development Authority (Irda) is confident of achieving its investment target of RM383bil by 2025, said chief executive Datuk Ismail Ibrahim.

“We are very optimistic and we have been achieving the investment target every year, in fact last year we attracted over RM25 bil worth of investments, and this year we will get more than RM25 bil,” he told reporters here yesterday after briefing local business people on Irda.

Ismail said investments in Iskandar Malaysia from January 2006 to June 2015 totalled RM172bil, with local investments accounting for 65 per cent.

Singapore is still the biggest foreign investor with investments of RM146bil, followed by China (RM8bil) and the US (RM6bil).

Although Indonesia is not among the top 10 investors - its investments currently amount to only RM1.2 bil - Irda is confident Indonesian companies would expand to the 2,300 sq km region in southern Johor, and will step up promotions in major cities like Yogjakarta, Surabaya and Medan.

“We see Indonesia as having great potential, and we have received positive response.

“Some have already invested, some have yet to decide, and some are still hearing about Iskandar Malaysia," Ismail said.

IRDA is also working to attract investments from ASEAN countries.

Malaysia, the current chair of the regional grouping, wants to see a further strengthening of the Asean Community.— Bernama

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