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Date [ 2015-02-10, 06:34 ]

Of the six economic corridors that Malaysia has set up, Iskandar Malaysia leads the pack.

Iskandar Malaysia continues to develop into 2015.

(Kuala Lumpur=Korean Press) Azmi Anuwar = Iskandar Malaysia, continues to show strong investments interest and is expected to exceed its target of RM25 billion by the end of 2014.

Realised investments have gradually increased from 43% at the end of Dec 2013 to 51% in Oct 2014. The realised investment will contribute to the GDP growth for Iskandar Malaysia in 2014 and 2015.

The investment interest in residential and mix development has peaked in 2014. Therefore for this year, the process will be more of consolidation and construction of projects in Country Garden, Forest City, Puteri Cove, Vantage Bay as well as development projects in Medini Iskandar, all of which will contribute to the GDP growth for Iskandar Malaysia in 2015.

The challenge of getting enough quality talent remains and will escalate in 2015. Building a good eco-system and social infrastructure to support these developments is to ensure that all levels of those residing in Iskandar Malaysia will be a part of the economic growth that is expected to take off in 2015 and beyond.

Iskandar Malaysia expects for 2013, a better GDP growth above 5.0% due to implementation of committed investments especially in the real estate and manufacturing sectors. The expected slower growth in construction should not impact Iskandar Malaysia as mega residential projects such as Country Garden, R&F Puteri and Forest City will drive growth in the construction sector.
 
Good growth in exports due to the weaker ringgit. Due to this, better performance is expected from the of  ports in Johor, especially from Tanjung Pelepas, which  has already achieved 8.0 million TEUs last December and is now targeting 9.0 million TEUs in 2015.

More tourist arrivals is expected on the back of the weaker ringgit. Tourism is expected to expand with more Singaporeans coming over to Iskandar Malaysia to enjoy its major tourist attractions such as Legoland and not forgetting the Singaporeans’ love for shopping.  Senai Airport recently recorded 2.05 million passengers (Jan—Nov 2014).

On the minus side, slower growth in committed investments, especially in the manufacturing sector, following the high investments made in 2013 and 2014. The focus will now be in the implementation of these committed projects.

Another bugbear will be higher inflation as the cost of living and cost of doing business goes up.

The final count, all things being equal, Iskandar Malaysia has more going for it than against it.

abc@koreanpress.net

 
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