Between January and April 2021, Iskandar Malaysia has completed investment projects worth RM7.33 billion, with domestic investors accounting for 20% and foreign investors accounting for the remaining 80%.
Datuk Ismail Ibrahim, Chief Executive of Iskandar Regional Development Authority (IRDA) said, “This realised investment is a positive indication that Iskandar Malaysia still retains the trust of the investors. We hope this confidence will continue and encourage other investors to see the region as an ideal platform to start, rebuild or expand their businesses and operations during or in preparation post-COVID-19 pandemic.”
Despite the pandemic hurdles, the Malaysia Investment Development Authority (MIDA) has backed and approved manufacturing projects in Iskandar Malaysia, and he expects the projects to be completed within the year.
In 2020, projects from China, Japan, and Singapore were approved for development in the region.
The top 3 approved industries were Transport Equipment, Electrical & Electronics and Machinery and Equipment. Overall, Iskandar Malaysia’s Total Cumulative Recorded Investment reached RM341.4 billion since 2006, and 61% of this has been realised amounting to RM209.9 billion (Manufacturing sector).
Malaysia’s Agriculture Minister says there is a genuine need to improve food security and a huge demand for continuous food supplies for the country and its immediate neighbour, Singapore. Ismail said he was excited and convinced that this can be achieved by investing in modern farming and the state government has announced plans to create a ‘Food Bank’ in Johor.
Iskandar Malaysia is also developing several programmes to build and strengthen the human capital resources in the region. Specific programmes such as the ‘IM Medical Sector Upskill’ programme aims to strengthen workers’ advantages in the healthcare services sector. The ‘Community Capacity Building’ programme helps boost individuals’ skills and adaptability to the various opportunities that may spill over from the investments.
“Our end game is always to get the Rakyat to benefit from the investments and the development,” said Ismail and that the government and private sectors must work together to prevail over the pandemic as the country needs to be ready to step up post-pandemic.