Iskandar Investment: Forest City’s special financial zone status to boost foreign investments, stimulate economic growth in Iskandar Malaysia
01 Sep 2023
The Forest City’s special financial zone (SFZ) status would present a strategic move to boost foreign investment and simultaneously stimulate the economic growth in Iskandar Malaysia.
Iskandar Investment Bhd (IIB) president and chief executive officer Datuk Idzham Mohd Hashim said as a key catalyst and strategic developer within Iskandar Malaysia Flagship Zone B, which includes Medini and EduCity, IIB believed that the SFZ status presented promising investment opportunities and signifies a big boost to spur the economic growth for the entire region.
“The close proximity between Medini and Forest City provides an ideal opportunity in pursuit of our vision to build an inclusive and sustainable metropolis of the future through seamless cooperation, identification of opportunities as well as complementing the proposed establishment of a Johor-Singapore Special Economic Zone,” he said in a statement today.
Idzham said IIB is also committed to work closely with the federal and state governments regarding Johor-Singapore Economic Zone establishment while waiting for more comprehensive details on it.
“Johor has always been a competitive destination for investments and IIB’S developments within the region stand as a testament to this narrative.
“With robust infrastructure, multimodal transportation facilities and strategic positioning that place us a mere 15 minutes away from Forest City and only 20 minutes to Singapore, IIB is well-prepared to leverage the potential opportunities arising from the SFZ too,” he said.
On August 25, Prime Minister Datuk Seri Anwar Ibrahim announced the creation of a special financial zone in Forest City as well as several incentives to boost economic activity in Johor and the surrounding areas.