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Malaysia woos India Inc

The Malaysian Government is planning to invite Indian companies to invest in its Iskandar project, a blend between business, real estate and entertainment, in the southern tip of peninsular Malaysia spread over an area three times the size of Singapore.

business Updated: Jan 10, 2010 21:35 IST
Anirban Choudhury

The Indian presence in Malaysia is all set to get a boost.

The Malaysian Government is planning to invite Indian companies to invest in its Iskandar project, a blend between business, real estate and entertainment, in the southern tip of peninsular Malaysia spread over an area three times the size of Singapore.

“We have had a word with several Indian companies and we are looking at participation of IT companies and educational institutions in the project,” said Mohamad Hanafia, executive vice president of Iskandar Investment.

To facilitate prompt response the authorities have arranged for one-stop clearance.

“Several Indian universities have already made an on-the-spot visit,” Hanafia said.

The project, which has similarities with special economic zones planned in India, spreads over 2,200 square km, or twice the area of New Delhi.

Iskandar is described in Malaysia as the “largest single development project between the booming economies of China and India”.

The country’s government has pumped 4.3 billion Ringgit (Rs 5,600 crore) into the project, which will house 1.35 million people by 2025. The project, set up in 2006, It will have an economic enclave of infrastructure projects, education and health cities, ports, supply chain services and tourism projects.