Iskandar Malaysia has recorded RM208 billion in committed investments from 2006 until June 30 this year, said Prime Minister Datuk Seri Najib Razak.

Najib, who is also the Co-Chairman of Iskandar Regional Development Authority (IRDA), said of the total, 51 per cent or RM106.43 billion represented investments that have been realised.

“(Of the total committed investments) Local investors contributed RM124 billion while 40 per cent (RM84.05 billion) came from foreign countries, which showed confidence of our neighbour and other countries in the world,” he said in a speech at the launch of Iskandar Malaysia Greenland Smart City Experiential Centre (SMARTXP), Helios Cove in Permas Jaya today.

Also present were Johor Menteri Besar Datuk Seri Mohamed Khaled Nordin, IRDA Chief Executive Datuk Ismail Ibrahim and Greenland Group Chairman/President, Zhang Yuliang.

Najib said the huge investments reflected the country’s strong economic fundamentals especially with the government strengthening the economy by removing subsidies on petroleum and gas, implementing the Good and Services Tax (GST) and diversifying the economy.

Despite receiving a lot of criticism and being exploited by some quarters including former leaders, the GST has become Malaysia’s saviour following a sharp drop in oil and gas prices, said Najib, who is also Finance Minister.

“They knew it was the right thing to do but they claimed that it was not,” he said,

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