JOHOR is consistent in its efforts to ensure the rapid recovery of its economy while strengthening its resilience to face new challenges posed by the changing landscape of the global economy.
“Last year the state contributed RM70.6 billion of approved investments into the country – making it the top contributor to the nation’s economy. This is 26.7% of Malaysia’s approved investments which stood at RM264.6 billion. Out of this RM58.8 billion is foreign direct investment.”
Johor Menteri Besar Datuk Onn Hafiz Ghazi issued these sterling fiscal indices during the Johor chapter of the recently hosted Mida Invest Series (MIS) – a programme aimed at showcasing a state’s full economic potential and providing the business community nifty user-oriented data on facilities and services provided by the government.
The programme also aims to provide information on initiatives to build and sustain the competitive edge of domestic companies – besides keeping abreast with the latest industry and investment updates.
The Johor MIS event was presented by the Johor State Government, the Iskandar Regional Development Authority, Johor Petroleum Development Corporation as well as the Johor Corporation (JCORP) on March 9.
“Since taking over the helm of the State Government last year, my colleagues and I have worked tirelessly to enhance our economic resilience by assisting the people in cushioning the impact of price increases and facilitating business recovery.
“In tandem, we have sought to generate quality investments, secure more job opportunities, and put in place the building blocks of a more dynamic, inclusive, and sustainable economy,” Onn Hafiz told a slew of captains of industry from varied sectors such as digital economy; aerospace; halal industry players; green technology; life sciences as well as bio- and medical technologies; automotive, electrical, and electronic sectors; the manufacturing and petrochemical industries and other priority commercial businesses.
Onn Hafizi said in spite of current global economic challenges and uncertainties, Johor which has earned the moniker of the “Southern Jewel” will enjoy an economic growth of 5% with major investors arriving from would be China and Europe.
He said Johor’s proximity to Singapore, excellent logistics and transportation infrastructures such as the Senai International Airport as well as its Pasir Gudang, Tanjung Pelepas and Tanjung Langsat ports will augur well for the state’s further growth – not to mention its asset of a large pool of graduate human workforce readily available at its hub.
It was also highlighted that the state’s Iskandar Region Development Authority (IRDA) has six regions, namely: Johor Bahru City Centre, Western Gate Development, Eastern Gate Development, Iskandar Puteri, Senai-Skudai and a new development area – with each focusing on their strengths ranging from healthcare education, petrochemicals, tourism, and agro and food processing among others.
Some of the other industrial parks in Johor are the East Coast Economic Region, Northern Johor, Muar Furniture Park (with an investment of RM2.57 billion), Pagoh Special Economic Zone, the Segamat Inland Port, East Johor, and the Pengerang Integrated Petroleum Complex (PIPC).
Also present at the event were Tuan Liew Chin Tong, Deputy Minister Of International Trade And Industry (MITI) and Tuan Lee Ting Han, Chairman of the Johor State Investment agency.
Both Onn Hafizi and Lee Ting Han affirmed their commitment to enhancing food security in the light of the current food shortage and price hike – with the Farmbyte Food Hub in Ulu Tiram slated to host downstream, midstream and upstream food and agro-industries with end-to-end enabled digital platforms.
The mission of this hub is to produce high-value agro-food products that are in demand for the local and international markets.
In his speech, PIPC CEO, Izhar Hifnei Ismail shared various business opportunities in the downstream oil and gas industry and also touched on the potential of turning single-use plastics into energy and fuel. However, he said this technology needs to be perfected and optimised.
Also taking to the podium, MIDA CEO Datuk Wira Arham highlighted that the RM264.6 billion approved investments in the services, manufacturing and primary sectors for 2022, created 140,370 job opportunities in the country.
He said the digital tech sector will continue to be MIDA ‘s priority area as it aggressively promotes data centres, cybersecurity, artificial intelligence (AI), creative and digital content such as gaming and animation, as well as system integrators and solution providers to make Malaysia the region’s tech launchpad.
According to him, the data centre investments pumped into Johor accounted for RM51.1 billion of the total investments in 2022, and MIDA welcomes investments from leading data centre companies to tap into the vast market demand for such services. “This sector must build a critical presence in Malaysia,” he added.
