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Catalyst Projects Can Generate RM13 Billion Annual Investments In Iskandar

posted 2 Oct 2011, 05:39 by Straits View
KUALA LUMPUR, Oct 1 (Bernama) -- Construction of catalyst projects in Iskandar Malaysia will generate annual investments of about RM13 billion until 2015, says Iskandar Regional Development Authority (IRDA) Chief Executive Officer Ismail Ibrahim.

IRDA is a statutory body responsible for realising the vision and objective of Iskandar Malaysia which will be transformed into a premier economic growth area.

It will be home to some three million people and total investments are expected to reach RM383 billion when the projects are completed in 2025.

He said the projects, viewed as tourists attractions, would not only generate economic growth but also provide high-income employment for many.

Citing the example of the international Legoland Malaysia theme park taking shape in Iskandar Malaysia, he said the park would open in the third quarter of 2012 and attract more than 1.5 million tourists and create 1,500 job opportunities.

"Todate, more than 12 catalyst projects were in its initial stage of operations and we expect more to join the bandwagon each year," he told reporters after a presentation on Iskandar Malaysia at the National Institute of Public Administration here today.

Some of the catalyst projects in the pipeline include Johor Premium Outlet, Medini Iskandar Malaysia, Indoor Theme Park and Edu-City.

Ismail also said the participation of foreign investors in the projects would also open opportunities for local investors to share experience and expertise.

"The foreign investors will bring with them technology, knowledge and expertise in specific fields and this is a good opportunity for local investors to enhance their expertise," he added.