ID :
181963
Fri, 05/13/2011 - 13:54
Auther :
Shortlink :
https://oananews.org//node/181963
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ISKANDAR MALAYSIA STILL ON THE RADAR OF MIDEAST INVESTORS
By Mohd Haikal Mohd Isa
JOHOR BAHARU (Johor, Malaysia), May 13 (Bernama) -- Iskandar Malaysia, the main southern economic corridor, is still on the radar of investors from the Gulf Cooperation Council (GCC) member countries despite the ongoing political turmoil affecting the region, says Iskandar Region Development Authority Chief Executive Ismail Ibrahim.
He said the instability in the Middle-East presented an opportunity for investors in the oil-rich region to spread their investments abroad including Iskandar Malaysia.
"Thus, the GCC - United Arab Emirates, Oman, Qatar and Kuwait are still our targeted countries. There is still strong interest from the GCC countries to be present in Iskandar Malaysia, although, this interest is yet to translate into additional investments," he told Bernama here recently.
Ismail also said, to date, Middle Eastern investors were planning initial committed development in Medini, located within the Nusajaya development zone, one of the five flagship zones in Iskandar Malaysia.
On investments in Iskandar Malaysia since it's launch in 2006 until March this year, he said the economic corridor had recorded a cumulative committed investment of RM73.24 billion. (US$1=RM3.00)
Of the total, local investments accounted for 59 per cent or RM43.29 billion while foreign investments made up the remaining 41 per cent or RM29.95 billion.
"The is a slow shift from being dependent on foreign investments, the majority of investments are coming from local sources," said Ismail, adding that the investment figures were a reflection of the confidence domestic investors had in Iskandar Malaysia.
He said the new trend also dispelled the perception that domestic investors were not buying into Iskandar Malaysia or that there was any discrimination or favouritism towards foreign investors.
Ismail also said investments worth RM28.25 billion were approved for manufacturing projects followed by RM24.26 billion in properties, RM6.28 billion (government), RM2.90 billion (utilities), RM1.47 billion (tourism) and RM10.08 billion (others).
"Approximately 40.1 per cent or RM29.35 billion of these investments were already spent and progress on the developments were on schedule," he added.
JOHOR BAHARU (Johor, Malaysia), May 13 (Bernama) -- Iskandar Malaysia, the main southern economic corridor, is still on the radar of investors from the Gulf Cooperation Council (GCC) member countries despite the ongoing political turmoil affecting the region, says Iskandar Region Development Authority Chief Executive Ismail Ibrahim.
He said the instability in the Middle-East presented an opportunity for investors in the oil-rich region to spread their investments abroad including Iskandar Malaysia.
"Thus, the GCC - United Arab Emirates, Oman, Qatar and Kuwait are still our targeted countries. There is still strong interest from the GCC countries to be present in Iskandar Malaysia, although, this interest is yet to translate into additional investments," he told Bernama here recently.
Ismail also said, to date, Middle Eastern investors were planning initial committed development in Medini, located within the Nusajaya development zone, one of the five flagship zones in Iskandar Malaysia.
On investments in Iskandar Malaysia since it's launch in 2006 until March this year, he said the economic corridor had recorded a cumulative committed investment of RM73.24 billion. (US$1=RM3.00)
Of the total, local investments accounted for 59 per cent or RM43.29 billion while foreign investments made up the remaining 41 per cent or RM29.95 billion.
"The is a slow shift from being dependent on foreign investments, the majority of investments are coming from local sources," said Ismail, adding that the investment figures were a reflection of the confidence domestic investors had in Iskandar Malaysia.
He said the new trend also dispelled the perception that domestic investors were not buying into Iskandar Malaysia or that there was any discrimination or favouritism towards foreign investors.
Ismail also said investments worth RM28.25 billion were approved for manufacturing projects followed by RM24.26 billion in properties, RM6.28 billion (government), RM2.90 billion (utilities), RM1.47 billion (tourism) and RM10.08 billion (others).
"Approximately 40.1 per cent or RM29.35 billion of these investments were already spent and progress on the developments were on schedule," he added.
