Iskandar Malaysia expects to attract new investments worth RM25-RM30 billion this year

Iskandar Malaysia expects to attract new investments worth RM25-RM30 billion this year

JOHOR BAHARU, Jan 14 — The Iskandar Regional Development Authority (IRDA) is confident of attracting new investments of between RM25 billion to RM30 billion this year, despite the global economic headwinds.

Chief Executive Datuk Ismail Ibrahim said three focus sectors, namely health, creative and tourism, can serve as the catalyst for growth in 2016.

“Although facing an uncertain economic climate this year, sector diversity and industry can drive the investments.

“The amount in investments last year also exceeded our target. As such, we are confident of meeting the same success in 2016,” he told reporters after officiating the Third Community Initiated Iskandar Malaysia Conference here Thursday.

From January to November last year, Iskandar Malaysia recorded committed investments of RM29.83 billion.

Ismail said the figure for domestic investments also rose in 2015 with the figure as of November seeing a contribution of RM111.82 billion ( 59 per cent) to the committed total.

The balance or RM76.14 billion (41%) came from overseas investors.

From 2006 to November 2015, the total amount in committed investments was RM187.96 billion with 50% of this or RM93.39 billion having been realised.

Meanwhile, in respect of the halal hub, Ismail said discussions were being held with a number of parties interested in participating in it.

“We will make an announcement on this at the right time,” he added.

He said a number of potential locations had been identified and among them being Pasir Gudang, Seri Alam, Sedenak and Nusajaya.

The conference today was officiated by the state Tourism, Domestic Trade and Consumerism Committee chairman, Datuk Tee Siew Kiong.