Johor expects to draw RM5.52b investments this year, state assembly told

Johor expects to draw RM5.52b investments this year, state assembly told

07 Sep 2021

Johor is expected to attract total investments worth RM5.52 billion this year based on an Invest Johor report up to Sept 1, the State Legislative Assembly (DUN) was told today.

Johor state exco of the Investment, Cooperatives, Entrepreneur Development and Human Resources Committee Datuk Mohd Izhar Ahmad said the state government is in the process of finalising the documents of the agreements involved.

“The hard work of the state government in implementing various initiatives to attract investments has begun to bear fruit as we can see with all these potential projects that are being negotiated,” he told the state assembly in its winding-up session.

Johor had remained competitive in attracting investments despite the challenging times, he noted. 

“Up to March, Johor had received RM1.7 billion in investments. Of this amount, foreign direct investment (FDI) made up RM369.77 million, while the remaining RM1.34 billion were domestic investments,” he revealed.

Mohd Izhar (Bersatu-Larkin) said the investments came from 49 companies, which are expected to create 5,394 jobs for Johoreans.

In 2020, Johor brought in RM6.78 billion of investments, where RM4.2 billion were from foreign investors and the remaining RM2.57 billion from domestic sources.

Investments in the state this year have generated 13,052 jobs from 232 companies.

Invest Johor is also in the final stages of publishing the Johor Investment Master Plan 2020-2030, which will be an additional reference besides the Johor Sustainable Economy Plan 2020-2030.   

Source: Bernama