Johor attracts significant investments in food manufacturing.
29 Jan 2015
Johor had attracted significant level of investments in the food sector with 12 projects with investments of RM399.5million approved for the first nine months of last year, due in part to the two halal parks in the Iskandar Malaysia region- Halal Malaysia (HalMas) in Tanjung Langsat and Sedenak
The Malaysian Investment Development Authority (MIDA) has continued to encourage Singaporean food companies to invest as well as outsource halal products and services in the state.
Singapore Manufacturing Federation (SMF) Deputy President, Sunny Koh said investors from Singapore and Malaysia would benefit from the warm ties between the two countries. In addition, businesses would gain from the zero or lower import tariffs, which is a value-added advantage for food manufacturers.
He called for the creation of an ecosystem so that food industry players could set up their base in Malaysia.
Koh was speaking at the Food Technology Industry seminar jointly organised by MIDA, Spring Singapore, SMF and Iskandar Regional Development Authority in Johore, yesterday. He represented some 100 Singaporean participants at the event, which were attended by over 200 representatives from the food and related sectors.
MIDA Executive Director, Manufacturing Development (Resource), N. Sangaran concurred with Koh for an ecosystem that would enable Singaporean food manufacturers to minimise operating cost and encourage them to expand to Malaysia. This would boost businesses in the supporting services sector as well as create more jobs.
At a media conference after the seminar, Sangaran said Johor is likely to emerge as the state which had attracted the highest level of manufacturing investments last year. The state has consistently stayed among the top five investment destinations in the country over the years.
For the first nine months of 2014, Johor received 147 projects with investments of some RM20.1billion.
The Minister of International Trade and Industry, Dato’Sri Mustapa Mohamed is scheduled to release the country’s investment performance for 2014 in Kuala Lumpur on Feb 28.
Source: NST Business Times and StarBiz