This confidence will encourage other investors to see the region as ideal to start, rebuild or expand biz
by SHAFIQQUL ALIFF / Pic by BERNAMA
ISKANDAR Malaysia has completed RM7.33 billion worth of investment projects between January and April 2021.
Iskandar Regional Development Authority CEO Datuk Ismail Ibrahim said the realised investment is a positive indication that Iskandar Malaysia retains investors’ trust as a preferred investment destination.
“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 period,” Ismail said in a statement on Sunday.
He attributed the investment achievement to the Malaysian Investment Development Authority’s support and approval of the manufacturing projects in Iskandar Malaysia.
Some 20% of the RM7.33 billion realised investments involved domestic investors, and the other 80% were from foreign investors.
In 2020, Ismail said the approved projects to be developed in the main southern economic region included those from China, Japan and Singapore.
The top three approved industries were transport equipment, electrical and electronics, and machinery and equipment.
Iskandar Malaysia’s total cumulative recorded investment has reached RM341.4 billion since 2006 to date.
Some 61% of the cumulative projects have been realised, amounting to RM209.9 billion of investments.
The manufacturing sector led the investments, followed by the logistics, tourism, creative services and healthcare services sectors.
Iskandar Malaysia aspired to be the preferred investment destination for investors seeking to start, rebuild or expand their business and operations during and post-Covid-19 pandemic.
Irda has taken several initiatives that can help investors embark their interest in the region quickly.
Early this year, Ismail said the authority announced its venture into modern farming as a newly promoted economic sector in the region.
“We are excited and convinced that this can be achieved because there is a genuine need to improve food security and a huge demand for continuous food supplies for the country and our neighbour, Singapore,” he said.