Iskandar Malaysia is located in Johore, which is the southern gateway to Peninsular Malaysia, was set to turn into Southern Peninsular Malaysia's most developed region, where entertainment, lifestyle and business will converge within a vibrant metropolis. Besides that, the government had also allocated RM6.83 billion to Iskandar Malaysia, which is not a small figure. Iskandar Malaysia is the largest single development project ever to be undertaken in that region. Due to its strategic location and accessibility to leading Asian countries like Singapore and a range of attractive fiscal incentives, Iskandar Malaysia is set to attract foreign and high-level corporate investments.
Iskandar Malaysia is Malaysia's first international theme park: Legoland was finally launched on the 15th of September 2012. According to the statistics, within the first one-and-a-half months since the official launch, Legoland had managed to garner as much as 250,000 visitors which is an overwhelming figure. LEGOLAND Malaysia is still maintaining their target to reach one million visitors in its first year of operation.
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| LEGOLAND Malaysia |
By the overwhelming amount of visitors within a short period, it is suffice to say that LEGOLAND might attract more and more visitors when all the rides and attractions are fully launched. There is an increase of tourists from Singapore and from other districts in Johor as well as other parts of Malaysia. Reports of shops extending their opening hours had been reported in the newspapers as the shop owners made a claim that the revenue will increase due to the tourism attractions that had been mushrooming around the area in NusaJaya.
The opening of LEGOLAND had increased job opportunities which decreased the amount of unemployment in the country. Besides that, the private consumption of the nations and foreigners will increase the GDP eventually. It could be an opportunity for our country to have an economic growth by the end of 2012.
Besides LEGOLAND, Puteri Harbour family theme park was also launched in November. It features the Japanese cartoon character, Hello Kitty and is also poised to attract investors to Iskandar Malaysia.
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| Marlborough College |
The development agency announced that Iskandar Malaysia has drawn investments worth about USD 30 billion since 2006. So far, the largest foreign investors in Iskandar Malaysia with a total of RM4.5 billion as of December 2011 is Singaporean companies.
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| Iskandar Malaysia |
Reference:
http://www.freemalaysiatoday.com/category/business/2012/09/11/iskandar-malaysia-the-next-big-thing/
Written by Xue Ying
said on
November 22, 2012 at 9:12 PM
True :D
-Delwyn-
imcr said on
November 22, 2012 at 9:51 PM
What should the government do if the economic boom is out of control?
Xue Ying said on
November 22, 2012 at 9:55 PM
The government could implement the contractionary fiscal policy by increasing the tax. Furthermore, the non-discretionary fiscal policy will also come into good use as the income of the nation increase, the auto stabilizer will automatically adjust the taxes to aid in the sudden economic boom
said on
November 22, 2012 at 10:05 PM
Having such drastic development and change within the state, how does it impact the people who are living there? What are the examples of long term benefits that they would gain?
said on
November 22, 2012 at 10:25 PM
How significant is the GDP growth based on the contribution of Iskandar Malaysia's investments given the current economic situation?
Xue Ying said on
November 22, 2012 at 10:30 PM
The people who are living in the state will be able to have higher chances of getting a job and will be able to support their family and contribute to the country's growth. Unemployment will result in the society to be unable to enjoy goods and services that they would be able to consumer during higher employment. With the development and change within the state, the lives of the society in Johore may be better and it will eventually benefit the other states in Malaysia because the government will be able to decrease their spending on the people that are unemployed.
For long term benefits, it would be their investment in Iskandar Malaysia. The investments on the projects in Iskandar Malaysia will generate income for the investors and the future infrastructures like the stadium and facilities will be accessible once they are completely built. It will enhance the lifestyle of the people.
Xue Ying said on
November 22, 2012 at 10:43 PM
In year 2005, the total of Iskandar Malaysia's GDP amounted to around USD 20 billion which is 60% of Johore's total GDP of USD 33.4 billion.
The current GDP per capita for Iskandar Malaysia is about USD 14, 790 which is already higher than Johore's per capita GDP of USD 10,757
Through these data provided by the official website of Iskandar Malaysia, it is sufficient to assume that Iskandar Malaysia will continue to grow once all the infrastructures are finished and is a stable contribution to the GDP growth, which is considered significant as the figures and due to the high amount of investment that the government had injected into Iskandar Malaysia.
Unknown said on
November 23, 2012 at 1:17 AM
WIll the redistribution of wealth from the firm to the society be great?
Xue Ying said on
November 23, 2012 at 1:42 AM
The redistribution of wealth from the firms in this growing region in Malaysia is a good start to reduce unemployment and hence able to allow the society to have more job opportunities. It will allow the people to feel wealthier as they have more income and via investing, they would have more income and it does good to the society.
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