JOHOR BARU: Johor's Iskandar Malaysia economic growth region has welcomed the new five-year multiple entry visa ruling which will be enforced by year-end for business visitors, foreign fund managers and investors.

On August 27, it was reported that Prime Minister Datuk Seri Najib Razak said business visitors, foreign fund managers and investors can apply for a five-year multiple entry visa from December this year.

Noting that the move will allow positive economic growth in south Johor and encourage positive investment opportunities, many in south Johor are welcoming the move.

Iskandar Investmant Berhad (IIB) president and chief executive officer Datuk Syed Mohamed Syed Ibrahim said as a strategic developer and significant stakeholder of Iskandar Malaysia, IIB is committed to encourage investment, stimulate growth and ensure its sustainability.

“Freer mobility will further enhance Iskandar Malaysia as an attractive investment destination. We applaud this timely decision to implement multiple entry visas for investors,” said Syed Mohamed in response to the announcement.

Medini Iskandar Malaysia Sdn Bhd managing director and chief executive officer Ir. Khairil Anwar Ahmad said the announcement will create a positive impact on Medini's positioning as a preferred career destination.

“As the master developer of Medini Iskandar Malaysia, we are developing an investment and business hub for this region to host multi-national companies,” he said.

Khairil also said the implementation of the Asean Economic Community (AEC) will enhance the flow of quality skilled manpower supply to Iskandar Malaysia which is vital in developing a sustainable metropolis in Medini.

The Iskandar Malaysia Chamber of Commerce and Industry also welcomed the introduction of the five-year multiple entry visa for professionals.

Its president Md Salikon Sarpin said the introduction of the visa is a positive move by the government as it makes Malaysia a more business-friendly place and would help to attract more investors into the country.

“As business people, they are always busy and on the run, so the availability of this visa would make it easier for them to conduct their business in Malaysia. It would it less of a hassle to do business here.

Md Salikon said investors are bringing in revenue to the country and employment opportunities for the local people, so it is good that the government is doing something to facilitate them.

Over the years, south Johor has been at the forefront of the country's development via the Iskandar Malaysia economic projects.

Located in the southern part of Johor, Iskandar Malaysia, which spans 2,217 sq km, making it three times bigger than Singapore and twice the size of Hong Kong, was mooted about seven years ago.

Since its establishment, it has recorded a cumulative total investment of more than RM130 billion. Of this, RM60 billion represented investments that had been realised.