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Johor still top manufacturing destination

Johor still top manufacturing destination

Mentri
Besar Datuk Mohamed Khaled Nordin said in the first six months of the year, the
state attracted RM27bil investments compared with RM15.7bil over the
corresponding period a year earlier.

He said
Johor drew the highest total approved investments in the manufacturing
activities nationwide at RM21.1bil in 2014, overtaking Penang and Sarawak.

Khaled
said the figure was a gigantic improvement from RM14.4bil received by the state
in 2013.

Of the
total RM27bil, RM25bil investments were from the domestic investors while the
balance RM2bil were from foreign companies, he said.

“This indicates
that Johor is no longer the sleeping giant it used to be. The state will soon
be the leading investment hub in the region,” Khaled said this after opening
the US$130mil Lotte Ube Synthetic Rubber Sdn Bhd plant in the Tanjung Langsat
industrial park here yesterday.

The
plant, the country’s first polybutadiene rubber (BR) facility, is a joint
venture between Lotte Chemical Corp (40% stake), Ube Industries Ltd (40%),
Lotte Chemical Titan (M) Sdn Bhd (10%) and Mitsubishi Corp (10%). It is capable
of producing 50,000 tonnes of BR yearly.

Khaled
said Johor would continue to adopt proactive measures to attract investors and
transform the state as the leading investment hub in the region.

“We have
established the Johor State Investment Centre (JSIC) to improve the overall
business and this will further enhance the mutual beneficial relationship
shared by the state and the businesses, “he said.

Khaled
JSIC would work closely with the Iskandar Regional Development Authority and
the Malaysia Investment Development Authority (Mida) to incubate a cohesive
business-friendly climate in Johor.

He said
Johor needed more dedicated industrial parks to cater for capital-intensive and
high-technology investors worldwide.

Meanwhile,
Mida chief executive officer Datuk Azman Mahmud said Johor boasted the right
ecosystem to become one of the leading regional manufacturing hubs.

He said
the state’s close proximity to Singapore was an added advantage to attract
manufacturers from all over the world to set up operations in Iskandar
Malaysia.

Source : Star Biz 

25 August 2015
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