IIB strengthens partnerships with GBS Malaysia, iTrain Asia and MDEC through GBS Iskandar @ Medini

• Aims to achieve a target investment of US$212 mil by 2030 in Medini
• Programme has garnered US$552 mil in investments, created 6,500 jobs in Medini since 2016

Iskandar Investment Berhad (IIB) has expanded its partnership with Global Business Services (GBS) Iskandar @ Medini through two key Memoranda of Understanding (MOUs) with GBS Malaysia and iTrain Asia. Additionally, it collaborates with Malaysia Digital Economy Corporation (MDEC) to enhance its GBS ecosystem in Medini, Iskandar Puteri. 

This initiative reinforces IIB's commitment to position Medini as the region’s first net zero carbon CBD by 2030 focusing on digitalisation, innovation, and GBS, the company said, in a statement. 

It added that in line with this commitment, the firm aims to achieve a target investment of US$212 million (RM1 billion) 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, it said.

Idzham Mohd Hashim, President/CEO of IIB, stated, "The GBS Iskandar programme has achieved US$552 million (RM2.6 billion) 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.” 

He added that 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, 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 of 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,” Idzham said.

The partnership between IIB and GBS Malaysia aims to propel Medini as a premier regional hub for GBS operations, leveraging its strategic location and supportive ecosystem. This collaboration underscores a shared commitment to positioning Malaysia at the forefront of the global digital economy.

Furthermore, the collaboration between IIB and iTrain Asia focuses on upskilling and reskilling initiatives tailored to empower companies in the GBS sector to ascend the value chain through AI, automation and sustainability initiatives, ensuring the workforce is equipped with the latest knowledge essential for success in the digital economy.

This collaboration will 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 aimed at driving foreign direct investments for the GBS industry. This partnership, slated to be announced in Q3 2024, aims to target new companies seeking a strategic and well-supported environment for expansion.

Mahadhir Aziz, CEO of MDEC said, “Our partnership with IIB underscores MDEC’s steadfast commitment to driving digital transformation, fostering talent development, and boosting economic growth in the GBS sector. This sets the stage for Johor to become a key destination for global investments.” 

He added that this collaboration aligns with the Malaysia Digital 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.

Chairman of GBS Malaysia, Anthony Raja Devadoss, emphasised, "The strategic partnership with IIB marks a significant milestone in our 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."

Meanwhile, Eric Ku, executive director of iTrain Asia, added, "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. Coupled with the robust support provided by initiatives like the GBS Iskandar, it creates an unparalleled opportunity for individuals to upskill and reskill, preparing them to thrive in the digital economy".  

Idzham reiterated, "We are grateful to our partners and stakeholders for their steadfast support in this transformative journey. Together, we are advancing our strategic objectives for Medini and contributing to the vision of Johor – Singapore Special Economic Zone. As we forge ahead, let us unite in our commitment to elevate Medini as the preferred gateway into Southeast Asia, benefiting Johor and the nation".