Iskandar Malaysia records RM172b in cumulative investments since 2006

PUTRAJAYA, July 9 — Iskandar Malaysia recorded total cumulative committed investments of RM172.51 billion from 2006 until June this year, Iskandar Regional Development Authority (IRDA) announced today.
Of the total, 50 per cent or about RM87.80 billion accounted for investments that have been realised, it said.

IRDA chief executive Datuk Ismail Ibrahim said local investors contributed RM105.03 billion (61 per cent) to the total cumulative committed investments while the balance of RM67.48 billion (39 per cent) came from foreign investors.

He said for the first six months of this year, Iskandar Malaysia received total committed investments of RM14.38 billion.

“This reflects growing investor confidence in Iskandar Malaysia as it moves towards its long-term development objectives,” he said in a statement today.

The statement was issued at the signing of a memorandum of understanding (MoU) between IRDA and six other stakeholders in Iskandar Malaysia at IRDA’s 17th Members of Authority Meeting here today, chaired by Prime Minister Datuk Seri Najib Tun Razak.

He said Iskandar Malaysia continued its emphasis on sustainable development, encompassing the economic, social and environmental aspects; while playing its role in contributing to the achievement of a high-income and developed nation in line with the 11th Malaysia Plan objectives.

IRDA is the regulatory authority mandated to plan, promote and facilitate the development of Iskandar Malaysia into a strong and sustainable metropolis of international standing, where living, working, business and leisure converge seamlessly.

Spanning over 2,217 square km, Iskandar Malaysia is a booming economic development corridor in southern Johor.

Source: http://www.themalaymailonline.com

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