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Thursday, 29 January 2015

Johor likely to retain top spot as preferred investment destination

JOHOR BARU: Johor is likely to retain its leading position as the most preferred investment destination in the country in the manufacturing sector for 2014, according to Malaysian Investment Development Authority executive director, manufacturing development (resource) N. Sangaran.

He said Johor had always emerged as one of the top five investment destinations in Malaysia over the years.

He said in 2013, Johor received the highest investment in the country in the manufacturing sector totalling RM14.4bil with 197 projects.

“From January until September 2014, Johor received 142 projects with investments worth around RM20.1bil,’’ Sangaran told a press conference yesterday. The press conference was held after the Food Technology Industry seminar jointly organised by Mida, Spring Singapore, Singapore Manufacturing Federation and Iskandar Regional Development Authority. Sangaran declined to give the total investment received by Johor for last year.

“But, it is safe to say that Johor is still the top investment destination in the country with most of the investments for the oil and gas sector in Pengerang,’’ he said.

Sangaran said International Trade and Industry Minister Datuk Seri Mustapa Mohamed would announce the country’s total investment in the manufacturing sector for 2014 in Kuala Lumpur on Feb 28.

He said from January to September 2014, Mida had approved 619 projects in the manufacturing sector nationwide with a total investment of RM63.5bil, compared with 787 projects for 2013 worth RM52.1bil.

“The food manufacturing activities including beverages received 51 projects worth RM2bil during the period against RM4.7bil with 77 projects in 2013,’’ said Sangaran.

Tags / Keywords: Stocks , Earnings , Economy , Corporate News , Investing , mida , johor

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