Johor upbeat despite global uncertainties

Mohamed Khaled: ‘Johor has the right ecosystem to continue attracting strong interest from domestic and foreign investors’. – Bernama

PASIR GUDANG: Johor will review its investment strategy from time to time in view of the uncertainties in the global economy caused by the monetary crisis in Greece.

Mentri Besar Datuk Mohamed Khaled Nordin said Johor was still upbeat it would continue to attract investments from around the world despite the economic challenges.

He remained confident that the state would retain its position as one of the top five investment destinations in the country.

“Johor has the right ecosystem to continue attracting strong interest from domestic and foreign investors no matter what the economic situation is,” said Mohamed Khaled.

He said this at a press conference at the Hari Raya open house celebration held for the Permas state assembly seat held at the Pasir Gudang Indoor Stadium here on Monday

According to Mohamed Khaled for two years in a row, Johor received the highest investment in the country in the manufacturing sector, totalling RM14.4bil in 2013 and RM24bil in 2014.

Apart from its strategic location, Johor’s close proximity to Singapore was another advantage in attracting investors given the republic’s position as an international trade and financial centre.

“Iskandar Malaysia is another factor that would help develop and position Johor as an economic powerhouse in the coming years,” said Mohamed Khaled.

Iskandar Regional Development Authority’s statistics (Irda) showed that Iskandar Malaysia received RM166.1bil in total cumulative committed investments from RM158.13bil as of Dec 31, 2104.

Mohamed Khaled said the weakening of ringgit against Singapore dollar would make Iskandar Malaysia more attractive especially for the Singapore’s small and medium enterprises to relocate their operations to the place.

The Johor Strategic Growth Plan would also be launched this year focusing on five key economic sectors to accelerate developments in the state.

On a separate matter, Mohamed Khaled who is also the co-chairman of Irda, said the board of directors had discussed the contract of Irda chief executive officer Datuk Ismail Ibrahim which expires on Dec 31, 2015.

“We will announce it at the right time and right place, today is a Hari Raya open house and it is not appropriate for me to make the announcement to the media,’’ he said.