Home Developer RM30bil target for Iskandar can be achieved this year

RM30bil target for Iskandar can be achieved this year



JOHOR BARU: The Iskandar Regional Development Authority (Irda) is confident of achieving the RM30bil investment target for Iskandar Malaysia for 2015.

Chief executive officer Datuk Ismail Ibrahim (pic) said new investments secured for the southern economic growth corridor exceeded RM25bil up to Sept 30.

He added that the 1Malaysia Development Bhd (1MDB) issue had no impact on investment flows into Iskandar Malaysia.

“Confidence among domestic and foreign investors in Iskandar Malaysia remains strong since our inception,” he told reporters after attending the opening of the International Conference on Low Carbon Asia. The conference was officiated by Mentri Besar Datuk Mohamed Khaled Nordin.

“This is reflected in the progress and development taking place in Iskandar Malaysia and we are moving in the right direction,” said Ismail.

He said that given the uncertain economic environment, Irda had introduced more measures to show that it was an attractive place for investors, especially at the international level.

Since its launch until June 30, 2015, Iskandar Malaysia had received RM172.51bil in cumulative investments. Out of this, half or RM87.8bil had been realised.

Launched on Nov 4, 2006, Iskandar Malaysia is three times bigger than Singapore and two times the size of Hong Kong. It is divided into five flagship zones – JB City Centre, Nusajaya, Eastern Gate Development Zone, Western Gate Development Zone and Senai-Kulai.

Earlier, in a press conference, Khaled confirmed that US-based Microsoft Corp would invest RM6bil to set up its operations in Sedenak, Kulai.

“Yes, Microsoft is coming to Iskandar Malaysia. We are waiting for a suitable date from the prime minister to launch the project,” he said.