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Iskamdar Malaysia ranked 4th best future global free zone

JOHOR BAHRU, Sept 7 (Bernama) -- Iskandar Malaysia boosted its competitive edge as the best choice for investment destination with the recognition as the fourth Global Free Zone Of the Future 2012/2013 by fDi Magazine of Financial Times Ltd.

Iskandar Regional Development Authority (IRDA) chief executive officer, Datuk Ismail Ibrahim, said the recognition would definitely help 'bookmark' Iskandar Malaysia in the minds of the businessmen, corporate leaders and policymakers.

"We at IRDA are fully committed to sustain and improve Iskandar Malaysia's attractiveness and ease of doing business," he said in a a statement here today.

With participation from 56 free zones, fDi Magazine's second global ranking of economic zones had ranked the Dubai Airport Free Zone and Dubai International Financial Centre in first and second place respectively while Shanghai's Waigaoqiao Free Trade Zone was third.

He said from 2006 until the end-June this year, Iskandar Malaysia has recorded cumulative committed investment of RM95.45 billion.

"This is a reflection that Iskandar Malaysia's strategies and executional plans are comprehensive and investor-friendly," he said.

According to the magazine, a total of 600 free zones from across 120 countries invited were tasked to complete a survey requesting both qualitative and quantitative data regarding the free zones.

A total of 56 zones responded and submitted the details required and this was judged and scored by an independent judging panel.

The information was set under five categories -- incentives, facilities, cost-effectiveness, transportation and best foreign direct investment promotion.

Iskandar Malaysia is in the midst of creating the low-carbon sustainability blueprint and is strongly progressing for the Johor Bahru transformation implementation.

In the fourth quarter of 2012, it will welcome the opening of Legoland Malaysia and the Puteri Harbour Family Theme Park in Nusajaya.

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