Ghani: Government confident Iskandar can achieve its 6% growth

By ZAZALI MUSA
Published on 17th August 2011
http://thestar.com.my/

NUSAJAYA: New investments flowing into Iskandar Malaysia are unlikely to be affected by the debt crisis plaguing the United States and certain European Union countries.

Johor Mentri Besar Datuk Abdul Ghani Othman said in fact the Government was quite confident that Iskandar Malaysia would achieve its six per cent gross domestic growth (GDP) this year.

He said based on the investment flow patterns received by Iskandar Malaysia since its inception on Nov 4, 2006, the country’s first economic growth corridor was moving on a right direction.

“In the last two years, there seems to be a strong interest especially from domestic investors to invest in all economic activities within Iskandar Malaysia,’’ Abdul Ghani told a press conference recently.

He said up to the first-quarter of the year, Iskandar Malaysia has attracted RM3.76bil new investment, bringing the total committed investments to RM73.24bil since 2006.

Of the total 73.24bil, RM43.29bil or 59% are from local investors and RM29.95bil or 41% are from foreign investors, of which 41% of the total committed investments have been spent to date.

Abdul Ghani said this after witnessing a joint-venture agreement between Dijaya Corp Bhd and Iskandar Waterfront Sdn Bhd to jointly develop a 92ha freehold land in Plentong, on the eastern part of Johor Baru district.

The parties will undertake the mixed property project for the next eight years with a gross development value of RM2.8bil to be known as Tropicana Danga Cove.

Abdul Ghani is also the co-chairman of the Iskandar Regional Development Authority (Irda) together with Prime Minister Datuk Seri Najib Tun Razak.

“The next six to 12 months will see several of the on-going public and private-initiative projects taking shapes and operational as scheduled,’’ he said.

He said among the notable major projects include the Johor Premium Outlets in Kulaijaya to open this November and Asia’s first Legoland Theme Park here which would open its doors in September 2012.

Abdul Ghani said three foreign universities have decided to set up their faculties at the EduCity here - two were the engineering schools and one in the business management discipline.

He said the existing EduCity precinct in Nusajaya covering 121.40ha now would have to be extended in the near future to cater for demand from foreign universities who planned to open their branch campuses here.