Open opportunity: Mohd Rashid (left) and Onn Hafiz at Invest Johor 2024. The event highlights the depth of the state’s economic potential.
GELANG PATAH: The recently concluded RHB Invest Johor 2024 event attracted over 500 industry leaders and foreign investors to learn more about the state’s economic growth.
The participants included industry captains, business leaders, domestic and foreign investors, state agencies and government-linked companies.
RHB Banking Group’s group managing director and group chief executive officer Mohd Rashid Mohamad said the event was a resounding success, fostering informative and productive discussions on Johor’s immense and diverse investment opportunities.
“Invest Johor 2024 served as a pivotal platform to showcase the state’s burgeoning potential, leveraging multiple economic initiatives and ongoing mega infrastructure projects,’’ Mohd Rashid said.
He added that the event had provided vital investment information to foreign investors and business leaders from across the region.
Mohd Rashid added the event also highlighted the rising confidence in the state’s potential as a prime investment destination.
“Invest Johor 2024 is a strategic platform to share our vision of unlocking Johor’s immense potential as the next epicentre of growth and investment,’’ he said.
GDP engine
Mohd Rashid pointed out that as Malaysia’s third-largest economic contributor, Johor is a beacon of growth and opportunity, representing 9.5% of the national gross domestic product.
He said with its strategic location, well-developed infrastructure, and diverse economic landscape, the state consistently outpaces national growth rates.
“The event highlighted significant multiple economic drivers propelling Johor’s exponential growth,’’ said Mohd Rashid.
He added that development of special economic zones (SEZ), beginning with the Johor-Singapore SEZ, promised unprecedented levels of investment in technology, data centres, industrial estates, property, and healthcare.
Mohd Rashid said the potential revival of the Kuala Lumpur-Singapore High-Speed Rail line and other proposed intercity transportation links will further catalyse infrastructure development, enhancing connectivity and cross-border travel.
“Johor represents a pivotal area of focus for RHB Banking Group. We are strategically positioned to cater comprehensively to the banking needs of this dynamic state,’’ he said.
Strong presence
Mohd Rashid said with its extensive presence of over 35 branches and approximately 1,700 self-service terminals across major urban areas in the southern area, the group was well equipped to serve the diverse needs of businesses and individuals.
“Our experienced and diverse team in the southern region possesses deep industry knowledge and the skills necessary to effectively serve our varied clientele,’’ he said.
Mohd Rashid added that the group’s commitment to Johor’s development is shown through continuous engagement with the private sector and state-owned entities through events such as Invest Johor 2024.
“Each of our initiatives supports the state’s economic progress,’’ he said.
Corporate focus
Mohd Rashid added that, with Johor identified as a key growth centre under the banking group’s Together We Progress 2024 (TWP24) corporate strategy, the group is eager to leverage the state’s vibrant economy that is being driven by strong consumer spending power and enhanced connectivity with Singapore.
Anticipating the positive impact of the multiple economic drivers, he said the group will continue to provide comprehensive banking solutions, including lending, deposits, investment banking, and wealth management services, to support the evolving needs of individuals and businesses in Johor to drive progressive economic growth.
“As global investors seek new growth hubs, Johor stands out with its robust infrastructure and strategic initiatives, positioning itself as a key player in the Asean region,’’ said Mohd Rashid.
At the event, Johor Mentri Besar Datuk Onn Hafiz Ghazi said the signing of the agreement for the JS-SEZ between Malaysia and Singapore is set to take place in the fourth quarter of 2024.
“Once signed, it will create a new milestone between the two countries and further strengthen the cooperation in the developments of the JS-SEZ,” he said during a question-and-answer session with Mohd Rashid.
