Johor attracts RM8bil investments from global companies

Datuk Osman Sapian. -Bernama filepic

ISKANDAR PUTERI: Johor remains attractive to foreign investors and has attracted RM8bil investments from global companies to invest in the state next year.

Mentri Besar Datuk Osman Sapian said the investment would bring economic impact to the state and the people in terms of spillover economic benefits and job opportunities.

He said the state government would continue to promote Johor as the most preferred investment destination in the country to international investors.

On that note, the Johor State Investment Centre (JSIC) set up in 2014, would be rebranded as Invest Johor to better reflect the state as Malaysia’s leading investment spot.

“Our main target now is to attract more high technology investments,” he said when tabling the Johor Budget 2019 at the state assembly sitting in Kota Iskandar here yesterday.

Osman said potential investors in the high-tech industry come from China, France, Japan, Singapore, South Korea and the United States.

He said the state government would focus on the 3H – high-technology, high-value and halal Industry – as the three industries would spearhead Johor’s economic development in years to come.

According to him, the state-investment arm Johor Corporation would undertake the development of the phase two of the Pengerang industrial area in Kota Tinggi covering 117ha costing RM191mil.

The project would support oil and gas-related (O&G) activities in the state in tandem with the aim to transform and develop Johor as the leading O&G hub in the region.

“The project is expected to attract RM800mil investments from foreign investors to Pengerang creating some 1,700 job opportunities and RM96.7mil in returns to the state,” said Osman.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Business , Johor , investments , Pengerang , Osman Sapian , lobal ,


Next In Business News

Pharmaniaga appointed sole distributor of Baraka in Malaysia
FBM KLCI likely to trade higher next week
Aramco agrees US$12.4bil deal to sell stake in pipelines
Solar in Malaysia - Challenges, and too much of a good thing?
CPO futures to see volatile trading next week, eyes on MPOB data
Pfizer, BioNTech seek US emergency nod for COVID-19 vaccine in adolescents
Eyes on next generation as Singapore succession is thrown into question
Oil price falls, ends week about 2% lower on supply increase, new lockdowns
BlackRock, Mustier's blank-check firm eye Credit Suisse fund management arm
GLOBAL MARKETS-S&P 500, Dow scale new heights, Treasury yields rise on strong inflation data

Stories You'll Enjoy