JOHOR BARU: The Johor Investment Company (Jico) is expected to help the state government attract new foreign investments.
State investment, cooperatives, entrepreneurship development and human resource committee chairman Mohd Izhar Ahmad said the company was among several post Covid-19 initiatives that the government was looking into to help in the economic recovery process.
The Larkin assemblyman pointed out that Jico’s role included gathering data on investors.
The company will be located in Singapore.
“We are in the midst of gathering data from Malaysians working in Singapore.
“We want to identify sectors with the largest number of Malaysians.
“Then we can approach the company or investors involved and get them to come and grow their business in Johor.
“This will help reduce unemployment rate in our state, ” he said when met after a meeting with Johor Socso director Tong Sing Chuang at the Health Department in Wisma Persekutuan here.
During the meeting, he presented cash aid from the survivors’ pension fund under Socso to the family of Mohamad Fadzil Ghazali, 44, who died of a heart attack.
Mohd Izhar said Johor had the capability to accommodate all kinds of businesses, ranging from manufacturing, electronics and services.
“These are some of the measures we are looking into in preparation for post-Covid-19 period, ” he added.
Jico is expected to be opened by the end of the year and headed by a member of the Johor civil service.
Presently Singapore, which has a high commission in Kuala Lumpur, also has a consul-general based in Johor.
Johor Mentri Besar Datuk Hasni Mohammad was reported saying Jico was necessary to enhance the state’s bilateral and economic ties with Singapore.
He had stressed that Jico was not an office to deal with matters related to diplomatic matters which were presently under the purview of Wisma Putra.
He pointed out that the office was in line with the government’s plan to review and strengthen the Singapore-Johor-Indonesia (Sijori) triangle of growth.
Sijori was launched in December 1989 and is a tripartite agreement between Singapore, Johor (in Malaysia) and Riau (in Indonesia) that seeks to exploit the competitive strengths of the three areas, and make the sub-region attractive to regional and international investors.
The growth triangle links the logistics, transportation and financial facilities of Singapore with the natural and labour resources of Johor and Riau.