Iskandar Investment Berhad (IIB) has announced the expansion of its Global Business Services (GBS) Iskandar @ Medini through two key Memoranda of Understanding (MOUs) with GBS Malaysia and iTrain Asia, as well as a collaboration with Malaysia Digital Economy Corporation (MDEC) to strengthen its GBS ecosystem in Medini, Iskandar Puteri. This effort reinforces IIB’s ambition to establishing Medini as the region’s first net zero carbon CBD by 2030, with an emphasis on digitisation, innovation, and GBS.
In line with this commitment, IIB is looking to achieve a target investment of RM1 billion by 2030 in Medini. The investment target will also help generate at least 2,500 jobs in the digital economy sector thus Medini’s position as Johor’s digital and innovation hub.
Dato’ Idzham Mohd Hashim, President/ Chief Executive Officer of IIB, stated, “The GBS Iskandar programme has achieved RM2.6 billion of investments and 6,500 jobs in Medini since its inception in 2016. As we embark on the next chapter of the GBS Iskandar initiative, IIB reaffirms our commitment to fostering growth and innovation within Malaysia’s GBS sector. The success of the GBS Iskandar at Medini is underpinned by its strategic location, serving as a hub for multi-modal transportation with seamless connectivity by land, air, and sea. Situated between two international airports and three major seaports, and just 40 minutes away from Singapore, Medini offers unparalleled accessibility and logistical advantages, positioning it as an ideal destination for GBS companies to thrive. By leveraging on cross collaborations within the Quadruple Helix framework (Industry, Academia, Government and Civil Society), we are poised to facilitate tailored solutions spanning incentives, strategic initiatives, talent development, and government liaison efforts, ensuring the GBS companies thrive in Medini’s vibrant landscape.
The collaboration between IIB and GBS Malaysia will focus on establishing Medini as a premier regional hub for GBS operations. This collaboration will highlight Medini’s distinct value offerings to GBS organizations, including its strategic location, superior infrastructure, and supporting ecosystem. This strategic alliance demonstrates a shared commitment to elevating Malaysia to the forefront of the global digital economy.
Additionally, the IIB and iTrain Asia collaboration is designed to amplify the impact of upskilling and reskilling initiatives tailored to empowering companies to ascend the value chain through AI, automation, and sustainability initiatives. This will ensure the GBS workforce is equipped with the latest knowledge essential for success in the digital economy. The collaboration will foster an environment of continuous learning and innovation to meet the evolving needs of GBS companies, thus positioning Medini as a premier destination for high-value jobs and sustainable growth in the region.
IIB looks forward to the upcoming partnership with MDEC, the leading government agency to drive foreign direct investments (FDI) for the GBS industry. This partnership, slated to be announced in Q3 2024, aims to target new companies seeking a strategic and well-supported environment for expansion.
Ts. Mahadhir Aziz, the CEO of MDEC said, “Our partnership with IIB underscores MDEC’s steadfast commitment to driving digital transformation, fostering talent development, and boosting economic growth in the Global Business Services (GBS) sector. This sets the stage for Johor to become a key destination for global investments. This collaboration aligns seamlessly with the Malaysia Digital (MD) national strategic initiative to advance Malaysia’s digital infrastructure, provide comprehensive business support, and further solidify Malaysia’s position as the digital hub of ASEAN.”
Chairman of GBS Malaysia, Anthony Raja Devadoss, emphasised, “The strategic partnership with IIB marks a significant milestone in our collective efforts to grow the GBS industry in Malaysia. By leveraging strategic advantages and fostering a dynamic ecosystem for growth and innovation, we are committed to unlocking Medini’s full potential and positioning Malaysia as a powerhouse in the global GBS landscape.”
Dato’ Eric Ku, Executive Director of iTrain Asia, added, “Medini stands as the ideal location for talent development within the GBS sector due to its conducive environment for innovation and learning. With its strategic positioning as a hub for technology, innovation, and global business services, Medini offers a dynamic ecosystem that fosters collaboration and skill enhancement. Coupled with the robust support provided by initiatives like the GBS Iskandar, it creates an unparalleled opportunity for individuals to upskill and reskill, preparing them to thrive in the digital economy”.
IIB P/CEO reiterated, “We are immensely grateful to our valued partners and stakeholders for their steadfast support in this transformative journey. Together, we are advancing our strategic objectives for Medini and contributing to the vision of Johor – Singapore Special Economic Zone (JS-SEZ). As we forge ahead, let us unite in our commitment to elevate Medini as the preferred gateway into Southeast Asia, benefiting Johor and the nation”.
