The Iskandar Malaysia Development Zone encompasses a massive 2,217 sq km of the southernmost portion of the state of Johor including the entire city of Johor Bahru (Malaysia's second largest city).
To put this into perspective this is three times the size of Singapore and twice the size of Hong Kong.
There are many incentives for companies to entice them to open operations within the Iskandar development covering tax incentives, exemption from foreign investment committee rules, certain flexibilities under the foreign investment committee rules and unrestrictive employment of foreign knowledge workers.
Overlooking the Iskandar Malaysia project is a federal statutory body called IRDA whose responsibilities are to realise the vision of developing Iskandar into a strong and sustainable metropolis of international standing.
Some of the more interesting projects are the opening of a factory outlet shopping mall called the Johor premium Outlet and the Legoland Theme Park. The Johor premium outlet is due to open in the 3rd quarter of 2011 and it is projected to attract 4 million customers annually and the following year will see the opening of the Legoland theme park which will be the first of 3 planned theme parks set for the Iskandar development.
The Iskandar Malaysia project in Johor will see many benefits for Johor business minded entrepreneurs to be able to take advantage of and this has to be an exciting time for the Johor economy.