Malaysia’s southern development corridor eyes RM22 billion worth of investments next year, an increase of about RM1 billion from this year, according to Iskandar Regional Development Authority (IRDA) CEO Datuk Ismail Ibrahim.
He is also confident that the region will continue to attract more investments on an annual basis.
“We have a target of RM383 billion worth of investments by 2025. This year onwards, we will be able to receive an average of between RM20 billion and RM22 billion,” said Ismail during the 2013 Land Public Transport Symposium in Kuala Lumpur.
Moreover, the investment trend in Iskandar is changing with domestic investors accounting for 64 percent of the investments at present. This compares during the early days of IRDA, when local investors only made up 45 percent of the investments, while the lion’s share came from foreigners.
This implies that domestic investors have become more bullish on Iskandar’s future, he noted, adding that the investments comprise upcoming projects and expansion of existing ones.
Ismail also pointed out that the opening of additional stores at the Johor Premium Outlets (JPO) as well as the launch of the Legoland water theme park and hotel are testaments to Iskandar’s appeal as a promising investment destination.
“In the past five years, we have been covering the education, tourism and healthcare sectors… With the opening of Primeworks Studios this year, we are hoping to get more investors in the creative industry next year,” he said.
Apart from rolling out the halal hub next year, IRDA is also on the lookout for oil and gas (O&G) firms, as well as those involved in food- and agro-processing, added Ismail.