Iskandar Malaysia still draws investments

JOHOR BARU: Iskandar Malaysia remains attractive to investors despite operating in a challenging economic landscape brought about by the Covid-19 pandemic.

According to Iskandar Regional Development Authority (Irda) chief executive Datuk Ismail Ibrahim, investment projects worth RM7.33bil were implemented in Iskandar Malaysia in the first four months of this year.

He said the implementation of the projects between January and April saw the involvement of about 20% domestic investors while the remaining 80% were foreigners.

“The implementation of these projects is a positive indication that the country’s first economic growth corridor still retains the trust of the investors,’’ Ismail said in a statement.

He hoped the investors’ confidence in Iskandar Malaysia will continue to strengthen.

At the same time, Irda continues to receive the support and approval for manufacturing projects from the Malaysia Investment Development Authority (Mida).

He said the latter had approved projects last year to be developed in Iskandar Malaysia, including those from China, Japan and Singapore.

Ismail said the top three industries approved were transport equipment, electrical and electronics, as well as machinery and equipment.

“Overall, we have recorded RM341.4bil in total cumulative investment since our inception on Nov 4, 2006, of which 61% of the figure has been implemented,’’ he added.

Ismail noted that 61% of these investment amounting to RM209.9bil was led by the manufacturing sector, followed by logistics, tourism, creative services and healthcare services.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Iskandar Malaysia , Covid-19 , pandemic


Next In Business News

Moody’s: Sustainable bonds issuance to top US$850bil
Public Mutual declares gross distributions of RM235m for 13 funds
Central banks go big on gold buying
Earnings bounce, bond-yield drop help keep party going for US stocks
Bitcoin rallies past key $40,000
PBOC: China will maintain prudent, flexible monetary policy
Bank Rakyat launches entrepreneur programme
CPO futures seen trading with upward bias next week
As scrutiny mounts, crypto exchange Binance to wind down derivatives in Europe
Oil price climbs, notches fourth monthly gain on growing demand

Stories You'll Enjoy