Authority eyes RM25 billion new investments for Iskandar

Authority eyes RM25 billion new investments for Iskandar

KUALA LUMPUR, 6 September: The Iskandar Regional Development Authority (IRDA) aims to achieve 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 the authority had 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.

He was speaking to reporters at the Iskarnival 2016 press conference here, yesterday.

Nor Hisham said IRDA had lowered its target to RM25 billion this year from the RM30 billion investment secured last year due to slowing global economic growth.

He said from 2006 to June 30, 2016, the total cumulative 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. 

— THE SUN

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