Iskandar Malaysia has a total size of 547,669 acres land size. Within Iskandar Malaysia, 5 flagship zone are identified for 9 key economic sectors which have total size of 92,535 acres, 50% of Singapore size.
Following the official launching of Iskandar Malaysia in November 2006, Iskandar Regional Development Authority (IRDA) was set up on February 2007 by a Federal Act of Parliament known as the Iskandar Regional Development Act 2007. The IRDA Act 2007 spells out its functions and responsibilities in relation to establishing national policies, directions and strategies for the development of the corridor.
The 5 flagship zone of Iskandar Malaysia and its key economic drivers:-
Flagship A : Johor Bahru City Center
As the southern gateway to Malaysia, Johor Bahru plays host to several key economic activities such as financial, cultural and urban tourism for Johor.
Flagship B : Nusajaya
A key component to Iskandar Malaysia and one of the largest property developments in South East Asia, Nusajaya’s key economic activities include education and medical tourism, entertainment and recreation, state administration, finance and biotechnology.
Flagship C : Western Gate Development
Known as one of the world’s major container ports, Tanjung Pelepas economic cluster houses several key economic activities such as logistics, free zone industrial area, regional distribution and international procurement, and oil storage terminals.
Flagship D : Eastern Gate Development
A renowned manufacturing hub in the south region of Malaysia, Pasir Gudang is the flagship D of Iskandar Malaysia. The key economic activities that are taking place include manufacturing (encompassing electronics, petrochemicals and oleochemicals), as well as oil storage terminals.
Flagship E : Senai – Skudai
As the transit town that links Iskandar Malaysia to the world, this township, which is also known as flagship E contains important economic activities such as logistics, manufacturing (especially in hi-technology and aerospace-related), tourism (luxury shopping destination) and Cybercity.
Iskandar Malaysia’s 9 key economic sectors :-
1. Food & Agro Processing – Top 5 most heavily invested industries with a surge of foreign capital investment in this sector in year 2008. This reflects investor’s confidence in Iskandar Malaysia’s business friendly and conducive operating environment towards building an Asian export future in Food & Agro Processing.
2. Financial Advisory & Consulting– Iskandar Malaysia is positioned to become regional Financial Shared Services Operation (FSSO) taking its advantages of location between two international financial hubs of Kuala Lumpur and Singapore.
3. Petrochemical & Oleochemical – Aligned to government strategies to increase investments in upstream and downstream activities and focusing on high value-added Oil & Gas and palm oil industry activities.
4. Education – Education services sector is main economic pillars offering excellent investment opportunities and in future provides professional individuals and skilled workers to suppport and sustain the growth of Iskandar Malaysia.
5. Healthcare – Iskandar Malaysia envisions to be Asia’s healthcare destination attracting customer worldwide. It key positioning strategies are to transform into world-class healthcare region and health tourism city.
6. Logistics – Logistics services identified as one of the fatest growing industries over the next 20 years in Iskandar Malaysia.
7. Electrical & Electronics – In Iskandar Malaysia, Electrical & Electronics is the dorminant sector as it accounts for RM4.8 billion (USD 1.5 billion) of the total value-added and over a third (38%) of the employment of its manufacturing sectore.
8. Tourism – In Iskandar Malaysia, the Tourism industry’s GDP contribution is expected to grow from 8 % in 2005 to 12 % in 2025 and job creation of 16,340 jobs. Legoland, HelloKittyFamilyTheme Park and PuteriHarbour are the results of the plan, completed and are in operating.
9. Creative Industries – Iskandar Malaysia is well-positioned to benefit from Malaysia’s local, regional and global creative initiatives as set in the Government’s development programme, the Tenth Malaysia Plan and the new Economic Transformation Programme (ETP).
The objective of Iskandar Malaysia development is to make Iskandar Malaysia a Safe & Secure place to Invest, Work, Live and Play. On top of it, initiatives taken to enhance liveability through a comprehensive, integrated and sustainable urban, transportation system. Another initiatives is taken to rejuvenate and revitalise Johor Bahru city as a Heritage & Cultural City which attracts vibrant activities and population.
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