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Monday, April 5, 2010

Young Singaporean businessmen see potential in Iskandar Malaysia

JOHOR BARU: Young Singaporean entrepreneurs in small and medium industries (SMIs) are optimistic about investing in Iskandar Malaysia, especially in supporting businesses such as the services and logistics sectors.

Singapore’s National Youth Council member Eng Tok Ching, who led a delegation of 15 entrepreneurs to visit the Pulai parliamentary constituency located within Iskandar Malaysia, said the economic region presented a lot of potential investment.

“It is certainly a very exciting project that we are confident of investing in.

“Given Malaysia’s close relations with Singapore, we feel that entrepreneurs from both countries can benefit from this mega project,” he told reporters after visiting the economic region here yesterday.

Eng said among the attractive investment prospects was the waterfront project, in which both countries could cooperate to develop.

He cited successful western projects such as the Niagara Falls, which was a joint development between the United States and Canada.

“Both counties should look into the possibility of developing the waterfront together. There will be abundant opportunities for businesses from both countries,” he said.

Pulai MP Datuk Nur Jazlan Mohamed, who hosted the Singaporean delegation, said the number of such informal visits should be increased in order to shed more light on Iskandar Malaysia, particularly among the young entrepreneurs.

“I hope that such visits can foster better ties between businesses of both countries and subsequently lead to more business opportunities.

“Such visits are a catalyst towards sparking interest to invest in the economic region,” he said.

He added that there should be no reason for businesses in Singapore not to consider investing in Iskandar Malaysia as the operating costs there would be much cheaper compared to that on the island republic.

Nur Jazlan said more efforts should also be made to attract multinational companies based in Singapore by generating more awareness on the economic region.

“These companies have heard about the mega project but have no proper information. We should generate awareness by organising more visits to the economic region,” he said.

By The Star (posted on 4April2010)

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