30 August 2012

Iskandar Malaysia - Confident of RM100B Cumulative Committed Investment

News for IM. IRDA is confident of breaching the RM100Billion cumulative committed investments by the end of the year. So far it has accumulated RM95.45B with RM41.35B or 43% already has been utilized. With more theme parks and recreation centers created, I believe the service sectors will be benefited from here. Nonetheless, we are still lacking behind Singapore in luring foreign talents as well as higher skills wickers to work in IM. We could see a gradual change in demography in this zone once more employers could rise their wages to employees, which I think it will not happen so soon, but in few more years time eventually.
Below are the news copied from thestar.com.my.

JOHOR BARU: Iskandar Regional Development Authority (Irda) is confident of breaching the RM100bil cumulative committed investments by the end of the year.
Chief executive officer Datuk Ismail Ibrahim said passing the RM100bil mark would be a major coup in proving to sceptics that Iskandar Malaysia was moving in the right direction.
He said Iskandar Malaysia had been able to withstand the challenges despite operating amid uncertainties in the global economic situation and emerge even stronger thereafter.
“Like in the stock market, it (the RM100bil mark) is the psychological breakthrough and a defining moment for all of us in Iskandar Malaysia,'' Ismail told StarBiz.
He said Irda would be holding an event in the latter part of the year to mark its achievement of hitting the RM100bil investment figure.
Ismail said Irda co-chairman Prime Minister Datuk Seri Najib Tun Razakwould grace the event together with Johor Mentri Besar Datuk Abdul Ghani Othman.
He said all stakeholders had to work even harder to ensure Iskandar Malaysia achieve the target of RM383bil investments as outlined in the Comprehensive Development Plan.
Ismail said this when met at the topping up ceremony of the Singapore-based ECON Healthcare Pte Ltd's RM40mil Medicare Centre and Nursing Home in Taman Perling.
He said from 2006 to the second quarter of this year, Iskandar Malaysia had received RM95.45bil cumulative committed investments in various sectors, with RM41.35bil or 43% already been realised.
“We are confident of attracting another RM4.55bil in new investments from now until end of the year and these are coming from the manufacturing and the service sectors,'' said Ismail.
StarBiz learnt that to date, Iskandar Malaysia had received RM97.95bil in cumulative committed investments but an official announcement would only be made next month.
He said when Iskandar Malaysia was launched on Nov 4, 2006, there were more non-believers than believers but it has reversed now.
Iskandar Malaysia is the country's first economic growth corridor, located in the southernmost part of Johor spanning 2,217 sq km and three times bigger than Singapore.
Other economic growth corridors in Malaysia are the Northern Economic Region, East Coast Economic Region, Sabah Development Corridor and Sarawak Corridor of Renewable Energy.

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