Iskandar on track to achieve investment of RM157 billion

Committed investments in Iskandar reached RM146.2 billion from 2006 until June 2014, shy of the RM157 billion target for this year, according to the Iskandar Regional Development Authority (IRDA).

Of the RM146.2 billion figure, RM69.53 billion or 48 percent have been rolled out as projects on the ground.

As for its origin, RM94.16 billion or 64 percent came from local investors, while RM52.04 billion or 36 percent are foreign investments.

The economic corridor also accumulated RM76.2 billion worth of investments in June 2014, surpassing its target of RM73 billion for Phase II (2011-2015). Likewise, it exceeded its target of RM47 billion for Phase I (2006-2010) with an actual figure of RM70 billion.

Despite beating its investment targets since the inception of Iskandar eight years ago, IRDA will continue to work harder so that more investors will inject money into the region.

“The key for Iskandar Malaysia now is to ensure its further growth and progress,” said its CEO Datuk Ismail Ibrahim. Another vital goal is to ensure the sustainability of its economic growth.

IRDA’s main objective is to transform Iskandar – a 2,217 sq km region that is two times bigger than Hong Kong and three times the size of Singapore – into a world-class metropolis by 2025.

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