First half of 2018 sees RM10.9b in IRDA investments

JOHOR BAHRU (July 19): In the first six months of 2018, the Iskandar Regional Development Authority (IRDA) attracted cumulative investments of RM10.9 billion. 

This raised the cumulative committed investments since 2006 to RM263.95 billion, said Johor Menteri Besar Datuk Osman Sapian, as reported by Bernama. He also said that to-date, 58% or RM154.14 billion of total investments had been realised.

Domestic investments account for 61% or RM161 billion of the committed investments of RM263.95 billion.

“Based on the latest investment report, I am optimistic that Iskandar Malaysia can achieve the RM383 billion investment target by 2025,” Osman, who is also IRDA Co-Chairman, said to Bernama today, after attending a closed meeting with IRDA's top management. Also in attendance was IRDA chief executive Datuk Ismail Ibrahim.

China was the highest contributor, at RM36.35 billion, followed by Singapore (RM21.98 billion), the United States (RM6.87 billion), Japan (RM4.41 billion) and Spain (RM4.18 billion), said Osman. 

Asean accounted for RM23.74 billion in investments while the European Union RM13.62 billion, from 2006 to June 2018, reported the news agency. 

Osman also said the investments were expected to create over 700,000 jobs, 31% of which involved semi-skilled and skilled workers.