Budget 2021: Irda lauds extension of incentives for Iskandar Malaysia

JOHOR BARU: The Iskandar Regional Development Authority (Irda) says it welcomes the government's decision to extend the existing incentives for Iskandar Malaysia until 2022 under Budget 2021.

CEO Datuk Ismail Ibrahim (pic) said it would further attract investment into the country’s first economic growth corridor.

He said it would spur and strengthen the nine promoted sectors in the region, which included healthcare, education, logistics and tourism among others.

“The move will also facilitate Iskandar Malaysia to meet its RM383bil target by 2025," Ismail said Saturday (Nov 7).

He said the RM1bil dedicated to supporting the growth of the high-tech industries, which includes research and development in aerospace, would be a boost to the region as Irda had identified the aerospace industry as the next growth sector in Iskandar Malaysia.

He also thanked the government for allocating RM100mil under Budget 2021 for job-related initiatives to Irda and the Sabah Economic Development and Investment Authority (Sedia).

“The allocation is helpful in reskilling workers who are affected by the closure of the borders in assisting them in obtaining new jobs or a new source of income," he said.

Ismail said the RM780mil allocation for regional projects to the five economic growth corridors, which include the Bus Rapid Transit (BRT) project in Iskandar Malaysia, would support the growth of businesses.

Other economic growth corridors in Malaysia are the Northern Economic Region, East Coast Economic Region, Sabah Development Corridor and Sarawak Corridor of Renewable Energy.

He said another opportunity for the semi-urban and rural communities was the RM30mil set aside for the “Community Farming Programme” which is expected to benefit some 60,000 participants.

He said Iskandar Malaysia has witnessed the success of such programmes through its own similar initiative — Iskandar Malaysia Urban Farming or IMURFarm.

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