JOHOR’s inclusion in the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) will open up new opportunities for economic growth in the state.
Mentri Besar Datuk Hasni Mohammad said Johor was invited as a new member of the subregional cooperation initiative, along with Terengganu and Pahang, following the 13th IMT-GT Summit in last month which was chaired by Malaysia.
He expressed confidence that with Johor’s involvement in the IMT-GT, the potential economic spillover to the state, especially in various areas of investment, would be expanded with discussions involving the government and private sector.
Hasni said being part of this initiative would also open up opportunities for improvement in the existing Singapore-Johor-Riau (Sijori) economic growth triangle, by strengthening direct links in various fields between the three areas.
He said this in his speech during the tabling of the Johor 2022 Budget at Bangunan Sultan Ismail in Kota Iskandar.
Sijori, launched in December 1989, is a tripartite agreement between Singapore, Johor (in Malaysia) and Riau (in Indonesia) that seeks to capitalise on their respective competitive strengths 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.
Hasni said to further boost investment activities in Johor, efforts to attract potential investors to the state must be continued.
Following Ibrahim Johor Economic Council’s (IJEC) recommendation, the state government would be using an investment consulting service to do this, he said.
“In the context of the current dynamic and changing economy, efforts to attract investors to Johor will be implemented in a more focused and organised way to yield optimal results to the government in the near future.
“To maintain the state’s status as a high investment centre, the government will expand its investment promotion globally through Invest Johor where we would be launching the Johor Go Global programme soon,” said Hasni.
The programme is expected to increase Johor’s online presence with an allocation of RM450,000.
Hasni added that Invest Johor would also be carrying out the Friendly Johor programme to attract new and existing investors with an allocation of RM470,000.
“As a start, the state government will be allocating RM10mil to prepare the investment facilitation fund.
“The fund will enhance the capacity and competitiveness of investors in Johor in various fields,” he said.
Hasni also said the state government would continue with its trade mission to identify business opportunities to increase the inflow of foreign investment into Johor.
He added that the government would also strengthen the Johor Convention Exhibition Bureau (JCEB) by streamlining its role and responsibilities in planning and coordinating more business events in the state.