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Johor sees positive growth in investments after pandemic, says state govt

Johor sees positive growth in investments after pandemic, says state govt

07 Jun 2022

Johor will see positive growth in investments in 2022 compared to the last two Covid-19 pandemic-hit years, says state Investment, Trade and Consumer Affairs Committee chairman Lee Ting Han.

He added that according to the Malaysian Investment Development Authority (Mida), the state recorded RM6.7bil worth of investments in 2020.

“Last year, Johor saw a 2.5% growth in investments, which is almost RM7bil for the manufacturing and services sector,” he added.

Lee said this when met after officiating the opening of Deloitte Malaysia Johor Baru branch office at Menara JLand here on Tuesday (June 7).

He said for this year, the state government expected Johor to achieve an even better figure than the last two years in attracting investments, especially foreign investors.

“When Malaysia reopened its international borders in April this year, we received many inquiries made by foreign investors from Singapore, China and South Korea.

“Investors from South Korea have shown interest in manufacturing while other economic sectors that have seen more inquiries are data sectors,” he added.

Lee, who is the Paloh assemblyman, also said that the state government was confident that the trend of investors showing interest in Johor would continue next year.

He added that with this in mind, the state government would work closely with public and private agencies, including from overseas, to offer services to investors investing in Johor.

“Johor Mentri Besar Datuk Onn Hafiz Ghazi will be addressing this when giving out his mandate soon,” he said.

Meanwhile, Deloitte Malaysia chief executive officer Yee Wing Peng said the company opening its branch office in Johor was very timely.

“As an international organisation present in Malaysia, we are hoping to contribute by getting foreign investors, especially from the United States of America, European and Asia Pacific countries to come here,” he added.

Source: The Star

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