Metropolis in the making
WHEN Iskandar Malaysia was launched in 2006, it was called the South Johor Economic Region (SJER).
To give the people, and investors in particular, a better understanding of SJER, it was dubbed the Shenzhen of Malaysia.
The Shenzhen example was used because the coastal city is one of the two special economic zones in China which has seen robust economic development over the years.
It was selected by the late Chinese leader, Deng Xiaoping.
SJER was launched slightly earlier than the Northern Corridor Economic Region, East Coast Economic Region, Sarawak Corridor of Renewable Energy and Sabah Development Corridor. However, no economic region in the country is talked about as much as Iskandar Malaysia.
This prestigious economic project is now on the global financial map.
Investors have pumped in money for various development projects because of its conducive investment climate, political stability and strategic location.
One of the bodies behind the success of Iskandar Malaysia is the Iskandar Regional Development Authority (Irda).
The statutory body shoulders the task of regulating and pushing stakeholders to realise the vision of developing Iskandar Malaysia into a global metropolis.
Its three key objectives are planning, promotion and facilitation of Iskandar Malaysia. Its vision is to make Iskandar Malaysia the first choice to invest in, live, work and play.
Irda's achievement speaks volumes about its hard work. Up to last month, the committed investments totalled RM77.82 billion.
The bulk of the amount went to the manufacturing sector (RM29.52 billion), followed by properties (RM25.84 billion), utilities, tourism and others (RM16.18 billion) and government (RM6.28 billion).
Sixty per cent of it came from domestic sources.
To date, 48.2 per cent of the committed investment has been spent.
The infrastructure projects, including earth works to create a better transport network linking different parts of the economic region within the shortest possible time, have had a great impact on the people of Johor, especially those living in Iskandar Malaysia.
The projects that have been completed are the coastal highway, Jalan Abu Bakar-Jalan Skudai road upgrade, Jalan Yahya Awal elevated interchange, Jalan Kolam Air road upgrade, Skudai-Senai road upgrade, Ulu Tiram elevated interchange and Bandar Indahpura-Kulai/Second Link Expressway interchange.
The Jalan Abu Bakar-Inner Ring Road elevated interchange will be completed by March.
As for the tourism industry, the Johor Premium Outlets will open this month and Legoland Theme Park will welcome visitors next September.
Also in the pipeline are the Pinewood Iskandar Malaysia Studios and Johor Theme Park, in Nusajaya, and MSC Cyber City in Kulaijaya.
More exciting developments are coming up in Iskandar Malaysia under the leadership of Irda chief executive officer Ismail Ibrahim.
If the current investment momentum is sustainable, it will not take long before Iskandar Malaysia reaps the harvest of a similar magnitude, if not better, than Shenzhen.