‘Investors see Johor’s potential’

By Monday December 12th, 2011 No Comments

Iskandar Malaysia rakes in over RM77 billion in investments

MORE foreign investors are expected to enjoy a piece of the economic pie by pumping in money into Iskandar Malaysia.

Up to September, Iskandar Malaysia had attracted RM77.82 billion in committed investments, 60 per cent of which were from domestic investors and others from overseas.

Prime Minister Datuk Seri Najib Razak said this had boosted the confidence of investors and the country was expecting more investments from China, South Korea, Japan, India, the Middle East and North America in the near future.

He said there was a consensus among economists around the world that Asia was set to lead the next phase of global growth.

“Iskandar Malaysia, together with the Economic Transformation Programme are synonymous with our efforts to strengthen Malaysia’s position as a regional economic player.

“With more foreign investments to be expected in the near future, Iskandar Malaysia will spearhead the growth of the Malaysian economy,” said Najib at the opening of the Johor Premier Outlets here yesterday.

Present were Menteri Besar Datuk Abdul Ghani Othman and Genting Group chairman Tan Sri Lim Kok Thay.

Najib said Iskandar Malaysia’s vision was to be a developed region of international repute and the government had invested RM6 billion in its infrastructure.

In fact, he said Iskandar Malaysia was the largest development project undertaken in the region.

“In welcoming investors to Malaysia, I would like to reiterate that the government’s role is merely a facilitative one, as it is the business communities that must ultimately rise to the challenge.

“The Johor Premium Outlets will play an important role to draw more domestic and foreign investors to this region. It attracts not only local consumers, but also visitors from across Southeast Asia and the Middle East.

“I am sure many European tourists will take advantage of the favourable exchange rate and discover that it is cheaper to shop here,” he added.

The Johor Premium Outlets is a project earmarked under the Economic Transformation Programme to boost the economy through tourism. It features 80 upscale outlet stores offering savings of 25 to 65 per cent every day. A venture between Genting Plantations Berhad and Premium Outlets, this is the 70th outlet in the world.

Najib anticipated three million visitors to the Johor Premium Outlets in the first year of operation.

The first phase of the Johor Premium Outlets, which opens this month, has a total of 70 shoplots. The second phase will have another 60 lots, a water park, a 2,000-room hotel and an international convention centre.

Source : New Straits Times

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