IRDA Is Sole Decision-making Authority Over Investments In IDR

"BUILD THE BRIDGE"

KUALA LUMPUR, May 18 (Bernama) -- The Iskandar Regional Development Authority is the sole decision-making body on all issues pertaining to both domestic and foreign investments flowing into the region, Johor Menteri Besar Datuk Abdul Ghani Othman said Thursday.
"Be they local or foreign direct investments from all sources including Singapore, it is the IRDA which will have jurisdiction over issues pertaining to investments," he said.
Allaying concerns and some confusion that the proposed Malaysia-Singapore ministerial committee on Singapore's participation in IDR could lead to excessive focus on Singapore, he said the committee "is neither consultative nor has decision-making powers in its role."
On the contrary, the committee will be optimising the synergies of growth and investment in the region, he told Bernama when asked to respond to such concerns.
It would facilitate economic cooperation between the two countries in the development of the IDR, he added.
Despite such concerns, numerous quarters have welcomed the formation of such a committee as it augurs well for increased commercial linkages between Malaysia and the island republic.
The committee was announced after discussions between Prime Minister Datuk Seri Abdullah Ahmad Badawi and his Singapore counterpart, Lee Hsien Loong, in Langkawi earlier this week.
Although informal, the cordial talks were fruitful and successful, setting the stage for taking bilateral ties, especially in economic cooperation and development, to a significantly higher plane.
Elaborating on Johor's and Singapore's synergies and potential complementarities, Ghani said: "By virtue of the location, the area encompassing both IRD and Singapore is a region of growth and investment.
"We (IRDA) are not going to give up jurisdiction of the region."
IRDA is the statutory body responsible for overseeing the development of the IDR, encompassing 2,217 sq km and covering five local authorities - Johor Baharu, Johor Baharu Tengah, Kulai, Pasir Gudang and Pontian.
With a population of 1.4 million, IDR is three times the size of Singapore and 48 times the size of Putrajaya.
IRDA's objective is to develop IDR into a strong and sustainable metropolis of international standing.
It will also establish national policies, directions and strategies for IDR, with studies showing that south Johor and its populace would immensely benefit from the IDR initiatives.

tunku : my question is if it is OURS why form a joint committee with singapore? there's no reason for it.are we developing IDR for Malaysia or both Malaysia and Singapore? Make it clear.