Iskandar Malaysia’s strategy is to assist the nation in becoming one of the top 30 global economies and the top 12 in global competitiveness.
The target of IRDA, the Iskandar Regional Development Authority, is to achieve a growth investment of RM636 billion by 2023.
According to the Prime Minister, Datuk Seri Anwar Ibrahim:
During a similar period, the Iskandar Regional Development Authority aimed for a gross domestic product (GDP) with a growth rate of 5.5-6.5 percent and a GDP for every capita of RM58,800.
The Prime Minister chaired the 32nd IRDA member’s meeting, in which among other things discussed the corridor authority and the coordination of its future direction under the Malaysia Comprehensive Development Plan III (2022-2030) under the MADANI Economy agenda.
Anwar, the Finance Minister, said:
In this meeting, there is also a discussion about the strategic industries that can improve the Iskandar Malaysia Investment Service Center and can help to enhance socio-economic development through fair job matching.
He also said that this is in line with the government’s decision to rebuild the country’s investment promotion agencies, which begins with the alignment of functions and roles of investment-related regional economic corridors, like jobs and all.
Johor Menteri Besar, Datuk Onn Hafiz Ghazi; Economic Miniter Rafizi Ramli; and Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz, also attended the meeting.
The launch of the MADINI Economy in July last year during that, Anwar said that the government plans to impel Malaysia to become one of the top 30 economies in the world within the next 10 years, up from ranking in 2022 based on World Bank data.
To achieve this goal, the government is focusing on greater regionalization and competitiveness, by prioritising economic complexity and the value chain.
