Johor expects to attract more investments this year

Johor expects to attract more investments this year

07 Jun 2022

Johor expects to attract more investments this year following the reopening of the country’s borders.

Johor State Investment, Trade and Consumer Affairs Committee chairman Lee Ting Han said his group had received many inquiries on investment in Johor involving the manufacturing and services sectors.

He said the almost RM7 billion in investments last year, especially in the manufacturing and services sectors, had further strengthened the state government’s confidence in targeting higher investments this year.

“This year we expect Johor to achieve a higher figure because the international borders have been opened and we have received many inquiries from foreign investors, especially from Singapore, China and South Korea.

“Therefore, the Johor government will work with the public and private sectors, including from outside Malaysia, to offer services in helping to invest in Johor,” he said at a press conference after the Deloitte Malaysia branch opening ceremony here today.

Deloitte Malaysia chief executive officer Yee Wing Peng said cooperation from financial consulting firms such as Deloitte could help Johor to attract more investments, especially from Europe and the Asia Pacific.

Lee said Johor recorded RM6.78 billion investments in 2020 and that increased by 2.5 per cent to almost RM7 billion in 2021.

“We have not yet received (the target) for this year’s investments because the state government is still new and Johor Menteri Besar Datuk Onn Hafiz Ghazi is expected to give a mandate in the near future,“ he said.

Source: Bernama