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Iskandar Malaysia has created 584,000 jobs

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LABUAN: Iskandar Malaysia has created a total of 584,000 job opportunities, with 15 per cent of the employment type comprising skilled and professional manpower, since it started in 2006.

Iskandar Regional Development Authority (IRDA) chief executive Prof Datuk Ismail Ibrahim said the percentage of skilled workers and professionals would grow higher with more investors from the various sectors coming to the economic region.

“At the moment, we are working very closely with the Ministry of Education and educational establishments to ensure we would continuously be supplied with skilled workers and with the right qualifications.

“Of course, we are also looking at those graduated from vocational schools,” he said this to Bernama after the signing of a memorandum of understanding between IRDA and Labuan Financial Services Auhority on Thursday.

Ismail said the total cumulative investment since the inception of Iskandar Malaysia was RM118 billion, out of which 67 per cent was from local investment and the remaining from foreign investors.

“This is a far cry from early years, when we saw significantly higher investment from foreign direct investment (FDI) compared to local,” he said.

He said this trend was expected during its initial year of inception, but it gradually improved through the collaborative efforts between stakeholders and business community, after which there have been tremendous achievement in attracting investment into Iskandar Malaysia.

“It is expected that in the initial years we know of little interest from local investors, however through collaborative efforts we have been able to create the ecosystem for investment and the results speak for itself,” he said.

Apart from other high-income generating sectors, Ismail said Iskandar Malaysia was also looking at tourism sectors related to nature and those related to retail, family entertainment, health and education as well.

“We are focusing on sectors that are not limited to locals but able to woo foreigners to enjoy the standard of services we are offering at very competitive rates,” he said. — BERNAMA

Source : Business Times

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