Johor aims to attract more quality investments to achieve developed state status

22 Sep 2022

Johor aims to attract more quality investments to achieve its target of becoming a developed state by 2030.

Menteri Besar Datuk Onn Hafiz Ghazi said that in order to achieve the goal, the state’s economic growth target must be consistent with the seven per cent growth projection set previously.

“To achieve those goals and ambitions, the economic growth target needs to be consistent at a rate of seven per cent.

“Business cannot be as usual, it demands a paradigm shift and a catalyst that can stimulate our economy,” he said at the third meeting of the first session of the 15th State Legislative Assembly here today.

Onn Hafiz said the state government has outlined six initiatives in an effort to further strengthen investment activities and ensure the influx of quality investment into the state.

He said this includes strengthening the role of Invest Johor, as the main state government agency responsible for bringing in investors from within and outside the country, in addition to strengthening the Johor Investment Committee and the Johor Economic Tourism and Cultural Office which are under the supervision of Invest Johor.

“We need to attract quality investors such as in the oil and gas, petrochemical, data centres, electricity and electronics industries, in addition to developing the food industry or foodbank.

“Thanks to the combined energy of all parties, Johor is back to being number one (in terms of investments),” he said.

Also planned is a strategic and focused trade and investment mission aimed at gaining investment and high-tech industry, innovation and research that will complete and strengthen the industrial ecosystem in Johor, he said.

Onn Hafiz said from the total investment of RM60.9 billion recorded by the state in the first six months of this year, a total of 7,421 job opportunities are expected to be offered through 222 projects.

Source: Bernama