Based on its achievements since launching nine years ago, the Iskandar Malaysia economic growth corridor is confident of achieving the RM30 billion target set for new investments this year.
According to Iskandar Regional Development Authority (Irda) Chief Executive Officer Datuk Ismail Ibrahim, the region already attracted RM3 billion in new investments during the first quarter. Irda is the regulatory authority mandated to plan, promote and facilitate the development of Iskandar.
Ismail said the new investments came from manufacturing, services and property, and an official announcement on the breakdown of the investments would be made by the end of March.
“The party is not over yet. The background music is still on and all stakeholders have to work even harder for Iskandar Malaysia to stay attractive and relevant,” he said at a recent press conference.
Ismail stressed that it was not easy to attract strong interest from domestic and foreign investors to Iskandar.
He added that Irda and other stakeholders would not rest on their laurels as Iskandar is facing competition not only from other economic growth corridors in the country but also from regional countries.
The other corridors are the Northern Corridor Economic Region, the East Coast Economic Region, the Sabah Development Corridor and the Sarawak Corridor of Renewable Energy.
“Although we have surpassed the investment target since our launch, more effort is needed to continue attracting investments to Iskandar Malaysia,” explained Ismail.