Johor records RM12.93b in committed investments up to 2Q 2024

03 Oct 2024

Johor recorded a total of RM12.93 billion in committed investments until the second quarter of this year (2Q 2024), said Lee Ting Han.

The state Investment, Trade, Consumer Affairs and Human Resources Committee chairman said that this amount includes RM7.97 billion in foreign direct investment (FDI) and RM4.96 billion in domestic direct investment (DDI).

“Out of the RM12.93 billion, the manufacturing sector contributed RM6.02 billion. FDI in the manufacturing sector is RM4.57 billion, while DDI in the manufacturing sector is RM1.45 billion.

“The services sector recorded a committed investment of RM6.90 billion, with FDI in the services sector amounted to RM3.40 billion, and DDI at RM3.50 billion,” Lee said during the state assembly meeting held at Bangunan Sultan Ismail here in Kota Iskandar today.

The Paloh assemblyman said this in reply to Anuar Abd Manap (BN-Pemanis) regarding the investment figures for the first quarter of this year.

Lee added that a total of 396 projects have been approved, creating 8,948 job opportunities in the state.

He also stated that to further increase investment in the state and make Johor a premier investment destination in the region, several initiatives have been implemented.

“This includes establishing the Invest Malaysia Facilitation Centre Johor (IMFC-J), aimed at reducing bureaucratic red tape and expediting the approval process, as well as the Johor Fast Lane (JFL) initiative.

“Additionally, the implementation of the Johor-Singapore Special Economic Zone (JS-SEZ) and the Forest City Special Financial Zone (FCSFZ) initiatives will position Johor as a key trading and investment hub in the region,” Lee said.

He expressed optimism that these initiatives will drive economic growth in Johor, particularly in the professional services sector.

Source: Bernama