Iskandar Malaysia surpasses annual RM30bil investment target


  • Business
  • Wednesday, 16 Jan 2019

Iskandar Malaysia's Chief executive officer Datuk Ismail Ibrahim(pic) said the accumulative investments garnered by Iskandar Malaysia between 2006 and 2018 was RM285.34bil.

ISKANDAR PUTERI: Iskandar Malaysia has attracted new investments worth RM32.23bil in 2018, surpassing the annual RM30bil target set by Iskandar Regional Development Authority (Irda).

Chief executive officer Datuk Ismail Ibrahim said the accumulative investments garnered by Iskandar Malaysia between 2006 and 2018 was RM285.34bil.

“For 2019, Irda is optimistic that the area will continue to attract investments where we have set a target of RM25bil to RM30bil,” he added.

Ismail said this after attending IskandarSpace one-year anniversary celebration, which is officiated by Johor International Trade, Investment and Utilities Committee chairman Jimmy Puah Wee Tse.

He added that from the figure, local investors contributed RM177bil, or 62%, while the remaining RM108bil, or 38%, was from foreigners. “We are buoyant to achieved the target set for this year through close cooperation that we share with various parties, including the state government,” he said.

Ismail said such cooperation is important as it would bring in investment from sectors that could create employment and business opportunities for locals.

He said sectors that been identified for Iskandar Malaysia are tourism, education, finance, health, creative and logistics.

Ismail said the six sectors recorded 16% growth between 2017 and 2018.

“As an example, the tourism sector last year recorded the highest investment, which is RM1.94bil, followed by education, which is RM940mil. This development will certainly attract entrepreneurs, especially the youth, to start their small businesses in Iskandar Malaysia,” he added.


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