Southern economic corridor Iskandar Malaysia recorded RM128.21 billion in total cumulative committed investments since its inception in 2006 until the end of September 2013, said Johor Menteri Besar Mohamed Khaled Nordin. The number puts it well on its way to achieving its target of attracting RM383 billion in total investments by 2025, as set out in its 20-year Comprehensive Development Plan. “It is noteworthy that 44% or RM55.81 billion has already been realised,” he said at the launch of BioMalaysia and BioEconomy Asia Pacific 2013 in Johor Baru yesterday. Khaled, who is also the co-chairman of Iskandar Region Development Authority (IRDA), said that todate, local investors have contributed RM83.4 billion (65%) of the RM128.21 billion with the balance of RM44.81 billion (35%) contributed by foreign investors. “In third-quarter (3Q) of 2013 alone, Iskandar Malaysia received new investments worth RM9.28 billion, compared to RM7.56 billion in the 2Q of 2013,” he said. Khaled pointed out that although manufacturing still dominated with RM45.68 billion of cumulative committed investments, the services sector is showing increasing investments. According to the latest investment statistics by Malaysian Industrial Development Authority on approved investments for Malaysia in the first half of 2013, the services sector dominated the investments approved pie with 58.1% while the manufacturing sector was at 22.5% and the primary sector with 16.8%. IRDA CEO Ismail Ibrahim said Iskandar Malaysia is on its way to achieve targeted investment for 2013 of RM22 billion and he is optimistic about surpassing it. “Up until the 3Q of this year, we are already hitting slightly above the RM20 billion mark, so we are very optimistic of achieving that figure (RM22 billion) or even surpass it.” Ismail said as investments are expected to grow in the future, the target will be moved upwards too, even up to RM25 billion of investments per year. “This will ensure that we achieve the RM385 billion targeted investments by the time we hit maturity in 2025,” he said, adding that the RM25 billion target could even start from 2014. “We have yet to look at those figures (whether or not the RM25 billion will start in 2014).” Iskandar Malaysia is currently in its second phase of development and the third phase will start in 2018. Ismail hopes that public funds will keep flowing into Iskandar Malaysia which has so far seen more than RM8 billion investments in infrastructure. According to the media reports, Iskandar Malaysia has attracted more than RM100 billion of cumulative committed investments through 2012, of which 41.1% have been realised.
Posted on: Tue, 22 Oct 2013 09:38:01 +0000
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