China, Europe potential major investors as Johor targets 5% growth - MIDA | Malaysian Investment Development Authority
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China, Europe potential major investors as Johor targets 5% growth

China, Europe potential major investors as Johor targets 5% growth

09 Mar 2023

Johor is confident of achieving between 4.1% and 5% economic growth this year as the state expects investment from China and Europe.

Mentri Besar Datuk Onn Hafiz Ghazi said this all despite major economic challenges and uncertainty over stability globally.

“I am confident despite all that (as) China is opening now (and) we are looking at China as a major potential investor.

“We have been meeting many Chinese investors now and we could see that target investment will be met, not just from China but European countries as well,” he told a press conference today.

He was speaking after attending the Malaysian Investment Development Authority (Mida) Invest Series: “Unfolding States’ Business Potential — Johor” at Mida Sentral.

Onn Hafiz added that he is proud of the announcement from International Trade and Industries Minister Tengku Datuk Seri Zafrul Tengku Abd Aziz yesterday that Johor had raked the most investment last year with the value of RM70.6 billion.

He said the state will continue to try to ensure that investments come to Johor.

“And with the help of the ministry and its agencies, I am confident that Johor will be the focus of incoming investors,” he said.

Updating on the current flood situation in the state, Onn Hafiz said industrial areas are not compromised.

“I see that the majority of industrial areas in Johor are not involved in floods as they are more in rural areas,” he said.

Extraordinary rainfalls since last week had caused several districts in Johor to suffer one of the worst floods in a decade.

Currently, about 40,000 individuals from 13,000 households are being sheltered with three confirmed deaths in areas including Muar, Chaah, Segamat and Batu Pahat.

Source: The Malaysian Reserve