Singapore slings hope for Iskandar's future

WITHOUT a doubt, Singapore is among Iskandar Malaysia's biggest cheerleaders; and the success of Malaysia's ambitious project is inextricably linked to its neighbour.

Singapore-based businesses got the nod to plough over US$950 million for 124 manufacturing projects in Iskandar from 2019 to mid-June 2021. Of this, more than half or 72 projects worth nearly US$590 million were approved during pandemic times (2020 and H1 2021) - according to data provided by the Malaysia-Singapore Joint Ministerial Committee for Iskandar Malaysia.

In terms of foreign investors in Malaysia's southern growth corridor, the city state is the second largest (after China) and has invested RM25 billion (S$8 billion) since the project's inception in 2006 to last year.