Iskandar Malaysia records RM13.2 bil in committed investments in 1H2022 - MIDA | Malaysian Investment Development Authority
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Iskandar Malaysia records RM13.2 bil in committed investments in 1H2022

Iskandar Malaysia records RM13.2 bil in committed investments in 1H2022

25 Jul 2022

Iskandar Malaysia has recorded committed investments of RM13.2 billion in the first half of this year (1H2022), 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 on Monday (July 25) chaired the Iskandar Regional Development Authority (IRDA) meeting, together with Johor Menteri 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% 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.

Source: Bernama