Johor registers RM60.9 bln record high half-year investments - MIDA | Malaysian Investment Development Authority
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Johor registers RM60.9 bln record high half-year investments

Johor registers RM60.9 bln record high half-year investments

03 Sep 2022

Johor recorded the highest investment in the country for the period from January to June this year which is RM60.9 billion, making it the highest investment ever recorded by the state.

Johor Menteri Besar Datuk Onn Hafiz Ghazi said the investment was an increase of 822 per cent compared to the investment for the same period last year which was RM6.6 billion.

“Insya-Allah, what has been achieved proves that Johor is capable of attracting high-tech and quality investments, thereby increasing the state’s economy to a higher level.

“Praise to His Majesty the Sultan of Johor Sultan Ibrahim Almarhum Sultan Iskandar who always advises the government to focus on the state’s economy for the sake of the prosperity of the people of Johor,” he said through a post on Facebook tonight.

For the record, Johor recorded an annual investment of RM12.3 billion last year; RM11.9 billion in 2020 and RM24.5 billion in 2019.

Onn Hafiz said the service sector was the biggest contributor with an investment of RM54.2 billion, following the presence of foreign-based data centre firms to the state.

Also, the manufacturing sector had managed to attract an encouraging foreign investment of RM6.7 billion, he added.

“All these investments confirmed for this half-year period will contribute to new job opportunities and will see a significant multiplier effect in the state.

“By focusing on the provision of basic infrastructure and attractive investment incentives, our efforts to maintain external relations and ensure business continuity also give them confidence,” he said.

Onn Hafiz said the state government in collaboration with the federal government will continue to work hard to maintain that performance and will continue to identify more high-quality and high-impact investments to establish a foothold in Johor.

“This is important because with the current geo-political situation in the world, a consistent investment fund will be an economic buffer and help Johor navigate uncertain times. This can guarantee the survival and well-being of the people in the future,” he said.

Earlier, the Malaysian Investment Development Board (MIDA) said in a statement today that Malaysia has attracted approved investments worth RM123.3 billion in the primary, manufacturing and service sectors covering 1,714 projects from January to June 2022.

MIDA said Johor was among the five main states besides Selangor, Sabah, Kedah and Penang, which contributed US$23.5 billion (RM103.5 billion) or 83.9 per cent of the total approved investments.

Source: Bernama