Johor govt in talks with 20 firms to invest in state - MIDA | Malaysian Investment Development Authority
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Johor govt in talks with 20 firms to invest in state

Johor govt in talks with 20 firms to invest in state

18 Oct 2022

The state government is in talks with about 20 companies and businesses on new investments and expansion in Johor, two of which are expected to be sealed by the end of this year.

Johor Investment, Trade and Consumer Affairs Committee chairman Lee Ting Han said these two deals would eventually push the state’s total investments this year beyond RM60.9 billion, which was recorded from January to June 2022.

He said the discussions involved two data centre players from the US and Australia, which are expected to be concluded by year-end.

Apart from that, Lee said the announcement by the federal government on Pengerang to be given special status as well as incentives specially customised for interested chemicals and petrochemicals companies, also spurred interest among companies from Japan, China and Taiwan.

“They are enquiring (on Pengerang special status) what it is all about, so it shows there are some interests around Pengerang in the area of chemicals and petrochemicals. (And) of course, recently I mentioned that we are in talks with two US-based pharmaceutical companies.

“We hope to close the deal and assist their entry into Johor by early next year, if not by the second quarter next year. So, we do see a positive inflow of investments. We have in the pipeline, talks with about 20 companies and businesses that we are actively facilitating.

“So, we do see good prospects for Johor up till the second quarter of next year,” he told reporters after the opening ceremony of DHL Express’ Johor Bahru Gateway in Senai today.

Apart from the two industries, there are also some interests from electrical and electronics manufacturing industry players in the state.

“We are a beneficiary of China’s trade war as many firms are considering shifting to neutral places and as I mentioned, Malaysia, particularly Johor, is located strategically. We are within six hours radius from major cities in Asia Pacific that allow us to give many competitive advantages compared to other countries.

“Therefore, we foresee positive inflows at least until the second quarter of next year. Going forward, it really depends on the global economic situation,” Lee added.

Earlier, he officiated the opening of DHL Express Johor Gateway, which is one of six gateways across DHL Express Malaysia aviation and ground network.

Also present was DHL Express Malaysia and Brunei managing director Julian Neo.

The RM10.8 million expanded facility comes equipped with a high-speed conveyor system capable of sorting up to 1,900 shipments per hour as well as improved shipment processing for more than 1,800 parcels and documents bound for and coming from the facility’s busiest trade lanes.

Source: Bernama