Iskandar Malaysia has made significant strides, says CEO

LABUAN, Aug 29 — Iskandar Malaysia has made significant strides locally and internationally in the last seven years, and the brand Iskandar Malaysia has become synonymous with a location for growth and investment potential, said chief executive officer Datuk Ismail Ibrahim.

“Certainly our catalytic projects in the tourism sector have proven that the market potential is real and the decision to locate in Iskandar Malaysia is truly justified,” he said at the signing of a Memorandum of Understanding (MoU) between Iskandar Regional Development Authority (IRDA) and Labuan Financial Services Authority (LabuanFSA) today.

He said the latest investment profiles in June this year showed that Iskandar Malaysia recorded RM7.56 billion in new investments in the second quarter of 2013 compared to RM5.06 billion in the first quarter.

This brings the total cumulative committed investments to RM118.93 billion from 2006 until June 2013, an increase of RM12.62 billion since the end of December 2012.

Of the total cumulative committed investments, RM53.73 billion or 45 per cent represents investments that have been realised.

This is certainly a strong indication of things to come, the height that is achievable by Iskandar Malaysia, as it powers through the remaining years in its plan to turn itself into a strong and sustainable metropolis of international standing by 2025.

Johor Premium Outlets (JPO) and LEGOLAND Malaysia have done well, and have decided to expand their operations to cater for the market, Ismail said, adding  the manufacturing, logistics, healthcare and education sectors have also seen notable success.

On the MoU, he said it was a first step to create potentially great synergy, one that can provide rewarding exchanges in the areas it has identified for mutual co-operation.   

“We think both our authorities can leverage on each other’s expertise and experience and emerge stronger and more resilient in facing the challenges faced by any economy including ours which is not spared from the vagaries of the world market,” he said. — Bernama