KUALA LUMPUR: The Iskandar Regional Development Authority (Irda) aims to attract RM25 billion in new investments for Iskandar Malaysia this year.
Corporate management and finance director Nor Hisham Mohd Yusof said Irda was confident of achieving the target as it has already secured RM17.7 billion in new investments in the first half of 2016.
"About 60% of the investments are contributed by the property sector which is mainly invested by mainland Chinese, followed by manufacturing and services sectors," he said at the Iskarnival 2016 press conference in Kuala Lumpur on Monday.
Nor Hisham said Irda had lowered its target to RM25 billion this year from the RM30 billion investment secured last year due to the slowing global economic growth.
He said that from 2006 to June 30, 2016, the total committed investments amounted to RM207.99 billion.
"We are on track to achieve the target of RM383 billion investments by 2025," he added.
Iskarnival 2016, the fifth edition of the event, is held in conjunction with the 10th anniversary of the establishment of Iskandar Malaysia in Johor. It aims to foster community ties and social-economic inclusiveness which is key to the sustainable future of Iskandar Malaysia.
Jointly organised by Khazanah Nasional Bhd, UEM Sunrise Bhd
and Iskandar Investment Bhd, the event will take place at Iskandar Puteri (formerly known as Nusajaya) for one weekend each in September, October and November 2016.
Each week will feature a themed festival, namely Iskarnival Kreatif (Sept 17-18); Iskarnival Naratif (Oct 15-16) and Iskarnival Sama-sama in November.
More than 100,000 visitors are expected to attend the event. - Bernama
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