JOHOR BARU, March 22 — Iskandar Malaysia attracted a total investment of RM32.15 billion in 2016, surpassing its annual target of RM25 billion.

In a statement today, Iskandar Regional Development Authority Chief Executive, Datuk Ismail Ibrahim, said in the fourth quarter of 2016 the economic region secured RM3.6 billion in new investments.

From 2006 until December 31 last year, Iskandar Malaysia attracted a total cumulative investment of RM222.44 billion, of which RM119.50 billion, or 54 per cent, represented investments that had been realised as projects on the ground.

The investments also exceeded the initial targeted figure of RM149 billion set when the region was first established.

“Domestic investments were recorded at RM134.50 billion or 60 per cent, while foreign investments were recorded at RM87.95 billion or 40 per cent from the total cumulative committed investments,” he said.

Throughout the 10 years of lskandar Malaysia’s development, Ismail said substantial changes could be seen in the region, not just in terms of economic development but also in social development and sustainability.

“This was the result of a strategic, comprehensive and meticulous planning of the Comprehensive Development Plan (CDP) for lskandar Malaysia. Initiatives to spur socio-economic activities have helped increase household income levels by 14.4 per cent in 2014 compared with that of 2012,” he added.

To date, about 702,000 jobs have been created in various economic sectors, including the services sectors such as logistics, creative, tourism and education since the inception of Iskandar Malaysia.

In addition, a dedicated business ecosystem was established by expanding the available pool of small and medium enterprises (SMEs) to support large strategic investment.

Ismail said 15 per cent of these jobs involved skilled workers and professionals, while 16 per cent were for semi-skilled workers.

In addition to employment opportunities, Iskandar Malaysia also benefited the people of Johor and Malaysia through the various business opportunities for entrepreneurs and SMEs.

“Over the next few years, we want to increase the percentage of professional and skilled jobs to 45 per cent and we believe this is achievable with greater collaboration with the industry and support by the government,” he added. — Bernama