Johor expects RM8 billion in FDI next year (November 2018)

ISKANDAR PUTERI: Johor is eyeing RM8 billion in foreign direct investments (FDI) next year from some of the world’s largest corporations which will attest to investors’ confidence in its economic potential.

Mentri Besar Datuk Osman Sapian said the state government’s continuous effort had succeeded in convincing investors to invest in various industries in Johor.

However, he did not elaborate on the new investments or the industries involved.

“These investments are sure to bring returns and big impact to the state and the people of Johor,” he said when tabling Johor’s 2019 Budget at the State Assembly here today.

To further drive activities to promote Johor as a global investment destination, Osman announced the rebranding of the Johor State Investment Centre, which was established since 2004, to Invest Johor.

Meanwhile, the Mentri Besar declared 2019 as the state’s “acceleration year” to realise its dream of becoming a high-performing state.

“We need to emphasise on ‘3H’ industries – High-Technology, High-Value and Halal Industries – as these are important global industries that will drive Johor towards becoming a high-performing state,” he said.

For example, Osman said high-tech industry would boost Johor’s productivity in the long term and also create businesses and job opportunities.

“The state is keen to have high-tech industry. Among high-tech foreign companies with the potential to invest in Johor are those from the United States, Taiwan, China, Singapore, France, South Korea and Japan,” he said.

As the halal industry is gaining wider acceptance and offering a lot of potential, he said the state government would implement several strategies to encourage, monitor and promote the industry next year. – Bernama