Iskandar Malaysia’s investment target is RM636 billion to help propel the country into the top 30 global economies – Prime Minister

KUALA LUMPUR (April 23): Iskandar Regional Development Authority (IRDA)’s target of achieving cumulative investment of RM636 billion by 2030 will put the country among the top 30 global economies and top 12 in terms of global competitiveness. This is one of Iskandar Malaysia’s strategies to support this. .

Prime Minister Datuk Seri Anwar Ibrahim said IRDA also targets gross domestic product (GDP) growth of 5.5-6.5% and per capita GDP of RM58,800 during the same period.

“I believe that Iskandar Malaysia’s growth objectives will also be driven by initiatives such as the Johor-Singapore Special Economic Zone (JS-SEZ) and the Forest City Special Financial Zone,” he said in a statement on Tuesday’s X mentioned in.

Earlier on Tuesday, the Prime Minister chaired the 32nd IRDA Members’ Meeting to consider, among other things, the future direction of the Corridor Authority and the alignment of the Iskandar Malaysia Comprehensive Development Plan III (2022-2030) under the Madani Economic Agenda. did. .

Mr Anwar, who is also Finance Minister, said: “The meeting also discussed strategic initiatives to improve the Iskandar Malaysia Investment Services Center and promote socio-economic development through fair employment matching.”

This is in line with the government’s decision to restructure the country’s investment promotion agencies, starting with the adjustment of the functions and roles of investment-related regional economic corridors, he added.

The meeting was also attended by Johor Menteri Besar Datuk Ong Hafiz Ghazi and Economy Minister Rafizi Ramli. Tengku Datuk Seri Zafrul Abdul Aziz, Minister of Investment, Trade and Industry;

At the launch of Madani Economy in July last year, Anwar said the government aims to help Malaysia become one of the top 30 global economies within 10 years, up from 37th place in the 2022 ranking based on World Bank data. He said he wanted to raise it.

The government aims to achieve this by prioritizing economic complexity and moving up the value chain, with a focus on regionalization and improved competitiveness.

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