DAY 1, 3 OCTOBER 2017
The Game Changer – Revolutionizing the Future Economy of Iskandar Malaysia
The global economy is expected to pick up in 2017 as the cyclical recovery continues. According to the IMF, global growth is expected to grow at 3.5% in 2017 as compared with 3.2% in 2016. Growth has been revised up for Japan and especially the Euro Area, where positive surprises to activity in late 2016 and early 2017 point to solid momentum. China’s growth projections have also been revised up, reflecting a strong first quarter of 2017 and expectations of continued fiscal support.
-As for ASEAN, the region is expected to continue to be the main sources of growth for the global economy moving forward. With the establishment and implementation of the ASEAN Economic Community (AEC), ASEAN will be a “single market” thus transforming itself as the next economic power house of the world in the next few years.
-The development of Iskandar Malaysia has remained resilient with strong investments from local and foreign investors despite external headwinds and global uncertainty. Anchored with the strategies in our Comprehensive Development Plan (2006-2025) as well as the enhanced Comprehensive Development Plan ii (2014-2025), the sustainable development of Iskandar Malaysia has its core focus on driving growth through investments, ensuring inclusiveness across communities and conserving the environment.
From 2006 to June 2017, Iskandar Malaysia had attracted investments of RM237 billion with more than 55% or RM130 billion realized. Top foreign investors in Iskandar Malaysia are from China, Singapore, USA, Spain, Japan and Korea, amongst others. We continue to attract foreign interest and at the same time, domestic investments continue to grow and today, contributed 60% of the committed investments of RM237 billion.
The GDP growth of Iskandar Malaysia has continually surpassed the growth of Johor and Malaysia and Iskandar Malaysia is set to continue its role to drive the economy of Malaysia. In 2016, its GDP growth was 5.6% (Malaysia 2016: 4.2%).
In our 10-year journey, we have many exciting strategic investments which will change the economic landscape of Iskandar Malaysia. The skyline of Johor Bahru city and its coastline have been transformed to challenge the skycrapers of Singapore and Hongkong. Connectivity and accessibility had greatly improved and enhanced with even more exciting infrastructure projects planned in the next 10 years.
And we crossed the first 10-year milestone, it is timely to envision the future economy of Iskandar Malaysia and to learn from foreign and local experts, what the new transformative forces which can change the economic landscape and provide great business opportunities and what are the learnings that we can take away from the past years.
We have brought together visionary business leaders to share their insights of their investment strategy in Iskandar Malaysia and Malaysia and how they are capturing the regional and global opportunities from Iskandar Malaysia. In our plenary sessions, we have CEOs and leaders to share their thoughts of what can drive Iskandar Malaysia forward and how they will be participating in these economic growth drivers.