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IRDA: Completion of RM7.33b investments projects reflects investors’ confidence in Iskandar Malaysia

Iskandar Regional Development Authority Chief Executive Datuk Ismail Ibrahim said 20% of the realised investments involved domestic investors while the remaining 80 per cent from foreign investors. — Picture by Choo Choy May

Iskandar Malaysia saw the completion of investment projects worth RM7.33 billion between January to April this year, reflecting a positive indication that the economic corridor still retained the trust of the investors.

Iskandar Regional Development Authority (IRDA) Chief Executive Datuk Ismail Ibrahim said 20% of the realised investments involved domestic investors while the remaining 80% from foreign investors.

“We hope this confidence will continue and encourage other investors to see the region as an ideal platform to start, rebuild or expand their business and operations during or in preparation of the post – COVID – 19 pandemic.

“We greatly appreciate Malaysia Investment Development Authority’s (MIDA) support and approval of the manufacturing projects in Iskandar Malaysia and look forward to the delivery of these projects this year despite the present challenges,” he said in a statement today.

Last year, the projects that were approved to be developed in this region included those from China, Japan, and Singapore with the top three approved industries were transport equipment, electrical and electronics, and machinery and equipment.

Ismail said overall, Iskandar Malaysia’s total cumulative recorded investment reached RM341.4 billion since 2006 with 61% of this has been realised to date.

He said the economic corridor would continue to present itself as the preferred investment destination for investors who seek to start, rebuild, or expand their business and operations during and post – COVID – 19 pandemic by taking several initiatives that could help these investors to embark their interest in the region quickly.

On the venture into modern farming, he said investors and partners are welcomed to the region to work together in developing, driving and benefiting from the modern farming initiative, driven by the demand of genuine need to improve food security and a huge demand for continuous food supplies for the country and its neighbour, Singapore.

— Bernama