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Iskandar Malaysia - Malaysia's southern jewel - enters its second development phase with a strong footing
ISKANDAR MALAYSIA, the country's most prominent economic corridor to date, has made a strong entry into the second phase of its development, having attracted a staggering RM84.78 billion in total cumulative committed investments during the first phase of its 20-year development plan.
Of the amount, 45% or RM38.15 billion of the committed investments have been realised to date with a number of vital developments either have been completed, nearing completion or getting off the ground.
Of the total cumulative investments for the economic region's first phase development, 60% (RM50.64 billion) were domestic investments while the balance of RM34.14 billion were foreign investments. European investors accounted for 42% of the total committed foreign investments, followed by Asian investors (41%) and Middle Eastern investors (15%).
The five-year Phase One period between 2006 and end-December 2011 had focused on foundation and planning of the ISKANDAR MALAYSIA region while the Phase Two period (2011 to 2015) would focus on strengthening and generating growth through realised investment and showcasing of major completion of developments and iconic projects.
'In 2011 alone, ISKANDAR MALAYSIA attracted a commendable RM15.3 billion of new committed investments. This already represents 21% of the 2011-2015 (Phase Two period) targets,' said …