PM: Iskandar Malaysia records RM13b in committed investments in 1H 2022

Prime Minister Datuk Seri Ismail Sabri Yaakob delivers his speech during the official launch of the Perodua new model Alza at Kuala Lumpur Convention Centre in Kuala Lumpur, 20 July 2022. - Picture by Shafwan Zaidon

Prime Minister Datuk Seri Ismail Sabri Yaakob delivers his speech during the official launch of the Perodua new model Alza at Kuala Lumpur Convention Centre in Kuala Lumpur, 20 July 2022. – Picture by Shafwan Zaidon

Monday, 25 Jul 2022 5:27 PM MYT

KUALA LUMPUR, July 25 — Iskandar Malaysia has recorded committed investments of RM13.2 billion in the first half of this year (1H 2022), out of which RM5.9 billion have been realised.

Prime Minister Datuk Seri Ismail Sabri Yaakob said the investments achieved had proven that foreign investors are more confident to invest in Malaysia.

“A total of more than RM10 billion will be generated by foreign investors in this region for the development of data centres,” he said in a statement.

The prime minister today chaired the Iskandar Regional Development Authority (IRDA) meeting together with Johor Mentri Besar Datuk Onn Hafiz Ghazi.

Ismail Sabri also stressed that these foreign investments would create additional job opportunities for Keluarga Malaysia.

“In total, more than 6,000 people in this region have received direct benefits from the socioeconomic initiatives that have been carried out,” he said.

Since its incorporation in 2006 until June 2022, Iskandar Malaysia recorded total investments of RM367.8 billion, out of which 59.6 per cent or RM219.2 billion had been realised. Out of the total investments, RM148.1 billion constituted foreign investments.

For the January to June 2022 period, Iskandar Malaysia registered RM13.2 billion in committed investments whereby RM5.9 billion had been realised.

Meanwhile, IRDA is formulating the Modern Agriculture Strategy in strengthening the food security agenda.

The development of 5G technology which is a key supporting component of modern agriculture is being accelerated in Iskandar Malaysia to address the food supply issue in the country.

This is in line with the government’s agenda to focus on food security through the allocation made under the 12th Malaysia Plan.

The Iskandar Malaysia Modern Agriculture plan would position IRDA as Malaysia’s Agrifood Hub.

IRDA is also drafting the Iskandar Malaysia Comprehensive Development Plan 2022-2030 which will make the region as one of the core areas of the national economy with the concept of sustainable development and resilient to future uncertainty, shocks and challenges. — Bernama