Iskandar Malaysia Secures Investments Worth RM10.85 Billion In 3Q16

 Iskandar Malaysia Secures Investments Worth RM10.85 Billion In 3Q16

JOHOR BAHRU, October 31— Iskandar Malaysia secured new investments of RM10.85 billion in the third quarter (3Q) of this year.

This brought the total cumulative committed investments secured to RM218.84 billion from 2006 until Sept 30.

Of the investments, RM113.36 billion or 52% represented what had been realised as projects on the ground.

In a statement here today, Iskandar Regional Development Authority (IRDA) Chief Executive Datuk Ismail Ibrahim said from January to Sept 30, Iskandar Malaysia gained tremendous ground in securing new investments.

“We are not far from our annual target of RM25 billion for this year,” he added.

He said Iskandar Malaysia continued to do well despite the challenges facing the global economy and on the back of the economic region’s resilience and strength in the nine promoted sectors.

“Domestic investments made up RM132.13 billion or 60% of the total cumulative committed investments to date.

“This shows the confidence in Iskandar Malaysia, especially among local investors, as we continue to develop the economic region into a strong and sustainable metropolis of international standing,” Ismail added.

Of the investments, 40% (RM86.71 billion) came from foreign investors, with the top five countries being China, Singapore, the United States, Japan and Spain.
Entering the 10th year of development, Ismail said Iskandar Malaysia is well on track to realise its long-term goals and remains optimistic that it would continue to attract a stable inflow of investments.

 

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