Manufacturing the most attractive sector for investors at Iskandar

JOHOR BARU: The manufacturing sector leads the pack in attracting investments to Iskandar Malaysia.

Among the nine sectors promoted, manufacturing recorded a total investment of RM62.74bil since its inception in 2006 until June this year, followed by tourism (RM7.12bil), logistics (RM6.69bil), healthcare (RM4.41bil), education (RM2.76bil), finance (RM2.09bil) and creative (RM590mil).

Mentri Besar Datuk Osman Sapian, who is also the Irda co-chairman with Prime Minister Tun Dr Mahathir Mohamad, announced the results.

Other sectors that brought investments were mixed property development projects with RM81.18bil, residential properties (RM48.86bil), industrial properties (RM20.92bil), utilities (RM12.97bil), government (RM10.67bil) and emerging technologies with RM2.94bil.

Osman noted that based on the achievements so far, Iskandar Regional Development Authority (Irda) was confident of achieving RM398bil in investments by 2025, targeted under its Comprehensive Development Plan (CDO2006-2025).

He said the economic growth corridor had attracted RM263.95bil in committed accumulated investment from 2006 until June 30, 2018.

“From the total figure, RM154.14bil or 58% have been realised,’’ Osman told reporters after attending a closed-door briefing with Irda chief executive officer Datuk Ismail Ibrahim.

He said from the RM263.95bil figure, RM161bil or 61% were from domestic investors while foreign investors contributed RM102.9bil or 39%.

He added that both domestic and foreign investors continued to show interest on Iskandar Malaysia despite challenges in the global economic situation.

“China, Singapore, the United States, Japan and Spain are the top five foreign investors in Iskandar Malaysia,’’ he said.

China companies have invested RM36.4bil, followed by Singapore (RM21.98bil), the US (RM6.87bil), Japan (RM4.41bil) and Spain (RM4.18bil).

“All stakeholders in Iskandar Malaysia need work together in concerted efforts to continue attracting investors,’’ he said.