JOHOR BAHRU: The state government launched the Johor Economic Transformation Plan (JETP) by identifying 83 investment projects across eight priority industries, which are expected to contribute investments worth RM167.4 billion.
State Investment, Trade, Consumer Affairs and Human Resources Committee chairman Lee Ting Han said that the industries, which include health and pharmaceuticals, logistics, aerospace, tourism, agriculture, energy, electrical and electronics, as well as chemicals and petrochemicals, will further elevate Johor's economy to a higher level.
He said focusing on these industries would strengthen the state's investment narrative, thereby giving investors confidence in the government's consistent support.
According to him, JETP is capable of accelerating investment realisation in the state through the implementation of 32 strategic intervention initiatives, which were identified based on key challenges and opportunities raised by stakeholders in the private sector and relevant public agencies.
"All these initiatives have undergone a filtering and prioritisation process to ensure that the state focuses on the most critical interventions. These initiatives are then evaluated based on their economic impact and ease of implementation," he said while presenting the JETP at the Persada Johor International Convention Centre here today.
Also present were Johor Menteri Besar, Datuk Onn Hafiz Ghazi, the Economic and Investment Advisor of Johor, Datuk Seri Hasni Mohammad, and President and Chairman of Pemandu Associates Datuk Seri Idris Jala.
Lee said the JETP was introduced to strengthen Johor's position as the country's main economic hub and to support the growth of existing and future industries.
The plan, he said, was developed to strengthen the second core of Maju Johor 2030, namely economic development, by focusing efforts on attracting high-quality investments from international and domestic sources, stimulating economic growth through incentives, infrastructure development and a business-friendly environment.
"This plan also aims to empower the workforce with skills and knowledge aligned with industry needs and to create quality job opportunities for the people, in support of inclusive and sustainable economic growth," he said.
Lee said three main targets were also set under the plan to ensure the state government achieves a gross domestic product (GDP) target of RM260 billion, with an expectation of more than 200,000 new job opportunities by 2030.
"Through the development of high-value sectors, Johor's GDP per capita is expected to exceed RM69,000 by 2030, with a compound annual growth rate (CAGR) of 7.5 per cent, thus surpassing the threshold of high-income states according to the World Bank benchmark," he said.
He added that under the JETP, each district will play a strategic role in ensuring more inclusive and balanced economic growth, thereby complementing and strengthening the Johor-Singapore Special Economic Zone (JS-SEZ) through the development of the local sector ecosystems. - Bernama
