Iskandar Investment Berhad (IIB) is strengthening its partnership for Global Business Services (GBS) Iskandar @ Medini, aiming a net zero carbon central business distric (CBD) by 2030.
In a statement, the firm announced a partnership expansion of the GBS Iskandar @ Medini via two key memoranda of understanding (MOUs) with GBS Malaysia and iTrain Asia and a collaboration with Malaysia Digital Economy Corporation (MDEC) to strengthen its GBS ecosystem in Medini, Iskandar Puteri.
This initiative reinforces its commitment to position Medini as the region’s first net zero carbon CBD by 2030 focusing on digitalization, innovation, and GBS.
In line with this commitment, IIB is looking to achieve a target investment of MYR 1 billion ($214 million) by 2030 in Medini.
The investment target will also help generate at least 2,500 jobs in the digital economy sector thus Medini’s position as Johor’s digital and innovation hub.
“The GBS Iskandar program has achieved MYR 2.6 billion ($555 million) of investments and 6,500 jobs in Medini since its inception in 2016,
“As we embark on the next chapter of the GBS Iskandar initiative, IIB reaffirms our commitment to fostering growth and innovation within Malaysia’s GBS sector,” said Idzham Mohd Hashim, President/ Chief Executive Officer of IIB.
According to him, the success of the GBS Iskandar at Medini is underpinned by its strategic location, serving as a hub for multi-modal transportation with seamless connectivity by land, air, and sea.
Situated between two international airports and three major seaports, and just 40 minutes away from Singapore, he said Medini offers unparalleled accessibility and logistical
advantages, positioning it as an ideal destination for GBS companies to thrive.
“By leveraging on cross collaborations within the Quadruple Helix framework (industry, academia, government and civil society), we are poised to facilitate tailored solutions spanning incentives, strategic initiatives, talent development, and government liaison efforts, ensuring
the GBS companies thrive in Medini’s vibrant landscape,” he added.
According to the statement, the collaborative venture between IIB and GBS Malaysia will focus on propelling Medini to become a premier regional hub for GBS operations.
This partnership will amplify Medini’s unique value propositions to GBS companies, such as its strategic location, advanced infrastructure, and supportive ecosystem.
This strategic partnership underscores a shared commitment to positioning Malaysia at the forefront of the global digital economy.
Additionally, the IIB and iTrain Asia collaboration is designed to amplify the impact of upskilling and reskilling initiatives tailored to empowering companies to ascend the value chain through artificial intelligence (AI), automation, and sustainability initiatives.
This will ensure the GBS workforce is equipped with the latest knowledge essential for success in the digital
economy.
The collaboration will also foster an environment of continuous learning and innovation to meet the evolving needs of GBS companies, thus positioning Medini as a
premier destination for high-value jobs and sustainable growth in the region.
IIB looks forward to the upcoming partnership with MDEC, the leading government agency to drive foreign direct investments (FDI) for the GBS industry.
This partnership, slated to be announced in the third quarter of 2024, aims to target new companies seeking a strategic and well-supported environment for expansion.
“Our partnership with IIB underscores MDEC’s steadfast commitment to driving digital transformation, fostering talent development, and boosting economic growth in the GBS sector,” said Ts. Mahadhir Aziz, the Chief Executive Officer of MDEC.
“This sets the stage for Johor to become a key destination for global investments,
“This collaboration aligns seamlessly with the Malaysia Digital (MD) national strategic initiative to advance Malaysia’s digital infrastructure, provide comprehensive business support, and further solidify Malaysia’s position as the digital hub of ASEAN,” he added.
Chairman of GBS Malaysia, Anthony Raja Devadoss, emphasized that the strategic partnership with IIB marks a significant milestone in their collective efforts to grow the GBS industry in Malaysia.
“By leveraging strategic advantages and fostering a dynamic ecosystem for growth and innovation, we are committed to unlocking Medini’s full potential and positioning Malaysia as a powerhouse in the global GBS landscape,” he said.
Eric Ku, Executive Director of iTrain Asia, added that Medini stands as the ideal location for talent development within the GBS sector due to its conducive environment for
innovation and learning.
“With its strategic positioning as a hub for technology, innovation, and global business services, Medini offers a dynamic ecosystem that fosters collaboration and skill enhancement,” he said.
Coupled with the robust support provided by initiatives like the GBS Iskandar, he said it creates an unparalleled opportunity for individuals to upskill and reskill, preparing them to thrive in the digital economy.
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