State rep: Johor records RM2.2b investment for manufacturing sector in first quarter of 2022
23 Jun 2022
Johor recorded a total value of investment of RM2.237 billion in the manufacturing sector for the first three months of this year, the state government said today.
Johor Investment, Trade and Consumer Affairs Committee chairman Lee Ting Han said the figure showed an increase of 30 per cent compared to the value of investments of RM1.705 billion in the manufacturing sector in the same period last year.
He said a total of RM23 million was received for the services sector in the first quarter of this year compared to RM39 million during the same period last year.
“Johor managed to record a total investment value in the manufacturing sector of RM6.784 billion. This figure will grow by 2.5 per cent to RM6.953 billion in 2021.
“The statistics presented show a rather positive trend. The state government has redoubled its efforts to attract investment by introducing investor-friendly policies,” said Lee in his winding-up session at the Johor state assembly in Kota Iskandar here.
Lee, who is also the Paloh assemblyman, said the value of investments targeted in the Johor Sustainable Development Plan is between RM10 billion to RM15 billion and could be achieved by this year.
He said various initiatives were being implemented and planned by the state government to maintain existing investments to attract new investors.
“Through the cooperation of all parties, including the Federal government, the Ministry of International Trade and Industry (Miti), the Malaysian Investment Development Authority (Mida) and the private sector, we are confident that the value target of the investment can be achieved,” he said.
Lee explained that the state government, through Invest Johor, has held several engagement sessions with departments, agencies, local authorities (PBT), industry players and investment sector organisations for strategic partnerships.
“As of June this year, a total of two management sessions involving four districts have been successfully implemented,“ he said.
Last week, Malaysia’s manufacturing sales grew 13.2 per cent to RM147.9 billion compared to the same month in 2021.
According to the Department of Statistics, the growth in sales value for April 2022 was driven predominantly by the electrical and electronics products subsector (21.9 per cent), particularly in the computer, electronic and optical products industries.
Source: Malay Mail