Assurance on Iskandar projects

JOHOR BARU: Menteri Besar Datuk Abdul Ghani Othman has promised that projects proposed by major foreign investors in the Iskandar Malaysia development corridor will start before the end of the year.

Brushing aside sceptics, Abdul Ghani said their investments will indeed come in and make an impact to generate economic growth.

Among projects that will soon take off in the development corridor are a high-tech park in Senai and new petro-chemical and gas facilities in Tanjong Pelepas and the eastern part of Iskandar Malaysia.

"Johor has always been among the most preferred choices of investment destinations, with the state receiving an average of 20 per cent of the country's total annual foreign direct investments over the past five years," he said after the ground-breaking ceremony of Mutiara Motors Sdn Bhd's building in Larkin yesterday.

Abdul Ghani said the latest trend of investment flow in the region indicated that landing cost is soaring and this will further put Iskandar Malaysia at an advantage as investors search for alternative sites for their projects.

"The higher landing costs is likely to lead to investors diverting their interests from neighbouring countries to Johor," he added.

Abdul Ghani said Iskandar Malaysia had already secured several committed major investors, particularly in the services sector.