Interest in IDR gaining momentum, says adviser

Interest in IDR gaining momentum, says adviser

By THE STAR

KUALA LUMPUR: Interest in the Iskandar Development Region (IDR) is gaining momentum among foreign investors, going by the rising number of visits to the region and talks being held with potential investors.

IDR adviser Tun Musa Hitam told reporters yesterday after the AGM of British Malaysian Chamber of Commerce (BMCC), of which he is co-patron, that talks on investment opportunities were currently being held with “certain Chinese parties”.

Investors from different countries, including 200 potential investors from Singapore, had visited the site, he said, but declined to give specific names.

Musa said various investors had also expressed interest in different aspects of the IDR.

BMCC chairman Peter Wentworth said British companies had a very positive view of the IDR as well.

“It’s a very natural extension of what Singapore and Malaysia could be doing.

“And most companies, particularly those in construction, would be interested to have a part in that region,” he told a press conference later.

Two-way trade between Malaysia and Britain hit RM2.5bil this year. Wentworth believes there is still an upside to this in the near future. The country is the third largest foreign investor in Malaysia.