June 2, 2023

Budget Creates Value-Added Investments Spurring Iskandar Puteri’s Attractiveness As A Major Investment Destination – IIB

Iskandar Investment Berhad (IIB) welcomes the 2023 Budget tabled by Prime Minister Dato’ Seri Anwar Ibrahim at the parliament yesterday.

Themed ‘Belanjawan Madani’, the Budget reflected the Government’s principle of responsibility in the wake of the current global economic challenges which are laden with uncertainty. The budget allocation is an upward revision from the RM372.3 billion budget tabled by the previous government in October 2022.

IIB President & Chief Executive Officer Dato’ Idzham Mohd Hashim (pic), in a note today (Feb 25) said IIB has played its role for more than 16 years in developing and successfully delivering signature and iconic projects in Iskandar Puteri. This year’s budget bodes well for IIB as we strive towards our business goals of the focused core business units, namely Property Development, Property Investment, Education and Ecosystem Building.

In line with the New Investment Policy, one of the mentioned initiatives to stimulate investment in the technology and high-impact sector is the announcement that Invest Malaysia Council and the National Committee on Investment (NCI) will lead efforts to accelerate the approval of high-potential projects. In addition, the Government is also committed to reducing bureaucracy including providing incentives to Local Authorities that facilitate the implementation of approved investments to ensure that investment efforts can be accelerated.

Iskandar Puteri will continue to capitalise on the Government’s strategy to strengthen Iskandar Malaysia’s development through the establishment of a special economic zone with competitive incentive packages to attract international investors. IIB has been playing its part in developing Iskandar Puteri by providing soft infrastructure through job creation, business opportunities for entrepreneurs, talent development, and elevating the quality of life in Iskandar Puteri.

As part of our efforts to promote the development of the Iskandar Malaysia economic region, Iskandar Puteri has been positioned as a major investment destination by creating and attracting value-added investments to encompass more emerging markets in Johor. With the need for digitalisation, IIB has catalysed a sustainable business ecosystem in Iskandar Puteri by making Medini Iskandar a suitable location for the innovation and technology community to thrive.

The Government’s strategies and initiatives for the year are comprehensive in propelling the Nation’s economic growth.

The Government is giving focus on talent development as a pull factor for foreign investors to invest and operate in Malaysia through international cooperation with foreign multinational companies by providing apprenticeship opportunities. This is in line with IIB’s aspiration to drive up the levels of a skilled workforce in Johor State. Our collaboration with local and international companies in creating an inclusive and skilled workforce, through apprenticeships, is a step in the direction of creating high-income jobs in Iskandar Puteri.

IIB lauds the ‘Perpaduan’ Government for continuing its efforts to promote good governance, transparency, integrity, and efficiency, particularly in government procurement. The tabled Budget provides the opportunity for future success and ensures continued financial strength and resiliency for all levels of society where it fully supports IIB’s efforts towards creating a sustainable future metropolis in Iskandar Puteri.

Read more: https://www.businesstoday.com.my/2023/02/25/budget-creates-value-added-investments-spurring-iskandar-puteris-attractiveness-as-a-major-investment-destination-iib/

Iskandar Investment Berhad (IIB) is an investment holding company incorporated in November 2006 to catalyse the strategic development of Iskandar Malaysia. Read more..