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IMFC expands to Johor to stimulate economic growth

IMFC expands to Johor to stimulate economic growth

29 Feb 2024

The strategic expansion of the Invest Malaysia Facilitation Centre (IMFC) into Johor reflects a progressive approach aimed at stimulating economic growth and attracting more investors to the state.

Investment, Trade and Industry (MITI) Minister Datuk Seri Tengku Zafrul Abdul Aziz stated that this initiative was approved during a meeting chaired by Prime Minister, Datuk Seri Anwar Ibrahim, marking the establishment of the first IMFC outside of Kuala Lumpur.

He said that this expansion is part of the Johor-Singapore Special Economic Zone (JS-SEZ) initiative, aimed at fostering stronger business relations between Malaysia and Singapore.

“We see IMFC as a key enabler of investment that also supports the MADANI Economic Framework and the New Industrial Master Plan (NIMP) 2030, contributing to sustainable growth initiatives while generating high-value job opportunities across Malaysia,“ Tengku Zafrul said in a statement today.

The integration of IMFC into this agenda highlights its role in fostering a business-friendly environment for mutual growth, and the JS-SEZ is expected to be a key driver of regional and national development.

“This move will create consistency in investment procedures and facilitate investment inflows into Malaysia.

“Coupled with Johor’s strategic location and natural resources, IMFC Johor will further enhance the competitiveness of this state and, consequently, Malaysia’s appeal as a preferred investment destination globally,” he said.

Tengku Zafrul said IMFC Johor is committed to delivering consulting and advisory services in line with the unique challenges and opportunities in this southern state.

He said both MITI and the Malaysian Investment Development Authority will work closely with the Johor state government to foster a dynamic, competitive and innovative economic environment that will support not only Malaysian businesses but also job opportunities for the people. 

Source: Bernama