RM3.968 billion investments from Singapore among key successes of Johor's JETCO - MIDA | Malaysian Investment Development Authority
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RM3.968 billion investments from Singapore among key successes of Johor’s JETCO

RM3.968 billion investments from Singapore among key successes of Johor’s JETCO

08 Dec 2022

 Investments from Singapore amounting to RM3.968 billion is one of the highlights of the Johor Economic Trade and Cultural Office’s (JETCO) achievements.

State Investment, Trade and Consumer Affairs Committee chairman Lee Ting Han cited the milestone as to how the setup of the office had pushed foreign direct investment into Johor.

He said the foreign injection was also aided by Malaysian Investment Development Board (MIDA) and Invest Johor.

Lee said there were 15 discussions with various agencies in Singapore via JETCO. Three series of familiarisation visits involving businessmen from Singapore to Johor were also organised.

“As of June this year, RM6.668 billion in investment in the manufacturing sector was recorded, of which RM5.65 billion was foreign direct investment (FDI).

“Out of that RM5.65 billion, RM3.968 billion was from Singapore mostly in electric and electronics (E&E) as well as medical equipment.

“This is among JETCO’s success stories. Next year, the state government will ramp up its efforts to attract more outside investments including those from Singapore,” he said at the Johor State Assembly here today.

He said this when answering a supplementary question from R .Vidyananthan (BN-Kahang) on the effectiveness of JETCO in bringing investment from Singapore to Johor.

To a question, Lee said JETCO also embarked on numerous innitiatives to attract more investment and collaboration opportunities through smart partnerships with relevant agencies from Singapore.

“JETCO also participated in three expos related to trade and tourism in Singapore.

“All these efforts are seen to have a very positive and encouraging impact on Johor,” he said.

Earlier, former Menteri Besar, Datuk Seri Hasni Mohammad (BN- Benut) asked Lee on the initiatives that JETCO would conduct to target the republic and multiply opportunities for Johor-Singapore cooperation in the field of sustainable development.

Source: NST