Iskandar Investment Berhad (IIB) welcomes the 2023 Budget tabled by the Prime Minister, Dato’ Seri Anwar Ibrahim at the parliament. The budget, with the theme “Belanjawan Madani,” represented the government’s responsibility in light of the current, unsettling global economic issues. The budgetary allotment is an increase from the RM372.3 billion budget that the previous administration presented in October 2022.
For more than 16 years, IIB has contributed to the creation and successful completion of recognisable and iconic projects in Iskandar Puteri, Johor. The budget for this year is encouraging for IIB as we work to achieve our objectives in the four key business areas of property development, property investment, education, and ecosystem building.
In line with the New Investment Policy, one of the mentioned initiatives to stimulate investment in the technology and high-impact sector is the announcement that Invest Malaysia Council and the National Committee on Investment (NCI) will lead efforts to accelerate the approval of high-potential projects. In addition, the Government is also committed to reducing bureaucracy including providing incentives to Local Authorities that facilitate the implementation of approved investments to ensure that investment efforts can be accelerated.
“Iskandar Puteri will continue to capitalise on the Government’s strategy to strengthen Iskandar Malaysia’s development through the establishment of a special economic zone with competitive incentive packages to attract international investors. IIB has been playing its part in developing Iskandar Puteri by providing soft infrastructure through job creation, business opportunities for entrepreneurs, talent development, and elevating the quality of life in Iskandar Puteri,” said Dato’ Idzham Mohd Hashim, President & Chief Executive Officer of Iskandar Investment Berhad.
“As part of our efforts to promote the development of the Iskandar Malaysia economic region, Iskandar Puteri has been positioned as a major investment destination by creating and attracting value-added investments to encompass more emerging markets in Johor. With the need for digitalisation, IIB has catalysed a sustainable business ecosystem in Iskandar Puteri by making Medini Iskandar a suitable location for the innovation and technology community to thrive. The Government’s strategies and initiatives for the year are comprehensive in propelling the Nation’s economic growth,” he added.
By international cooperation with foreign multinational corporations and the provision of apprenticeship opportunities, the government is putting a focus on talent development as a draw factor for foreign businesses to invest and operate in Malaysia. This supports IIB’s goal of increasing the level of the skilled workforce in Johor State. In order to create an inclusive and competent workforce through apprenticeships, IIB has partnered with both domestic and foreign businesses. This is a step in the right way for Iskandar Puteri to provide high-income jobs.
IIB lauds the ‘Perpaduan’ Government for continuing its efforts to promote good governance, transparency, integrity, and efficiency, particularly in government procurement. The tabled Budget provides the opportunity for future success and ensures continued financial strength and resiliency for all levels of society where it fully supports IIB’s efforts towards creating a sustainable future metropolis in Iskandar Puteri.
