Iskandar Malaysia records RM32.15bil investments in 2016

Iskandar Malaysia registers a total investment of RM32.15bil in 2016, surpassing its annual target of RM25bil, Iskandar Regional Development Authority chief executive Datuk Ismail Ibrahim said.In a statement, he said the fourth quarter of 2016 alone saw the economic region secured RM3.6bil in new investments.

Since 2006 until Dec 31 last year, Iskandar Malaysia recorded a total cumulative investment of RM222.44bil, of which RM119.5bil or 54% represents investments that have been realised as projects on the ground.This total cumulative amount, he said also exceeded the initial targeted figure of RM149bil set when the region was first established.“Domestic investments were recorded at RM134.5bil or 60%, while foreign investments were recorded at RM87.95bil or 40% from the total cumulative committed investments,” he said.

Throughout the 10 years of lskandar Malaysia’s development, Ismail said substantial changes could be seen in the region, not only in terms of economic development but also in social development and sustainability.This was the result of a strategic, comprehensive and meticulous planning of the comprehensive development for lskandar Malaysia. Initiatives to spur socio-economic activities have helped increase household income levels by 14.4% in 2014 compared with 2012, he added.To date, about 702,000 jobs have been created in various economic sectors, including the services such as logistics, creative, tourism and education since the inception of Iskandar Malaysia.