ISKANDAR PUTERI: Johor has recorded more than RM12bil in total committed investments until the second quarter of 2024, says Lee Ting Han.
The state investment, trade, consumer affairs and human resources committee chairman added that based on the latest statistics from the Malaysian Investment Development Authority (Mida), Johor has recorded a total committed investment of RM12.9bil until the second quarter of 2024.
“This amount includes foreign investment direct investments (FDI) of RM7.9bil or 61.6% and domestic direct investments (DDI) of RM4.9bil or 38.4%.
“A total of 396 projects have been approved, which can create a total of 8,948 job opportunities for locals,” he said during the state assembly meeting held at Bangunan Sultan Ismail here in Kota Iskandar on Thursday (Oct 3).
Lee said this in his reply to Anuar Abd Manap (BN-Pemanis) who asked what was the total investment for Johor in the first quarter of 2024 and what is the government’s strategy to ensure investors, especially from abroad, to take advantage of the state’s potential for them to choose as their business investment destination.
He added that from the RM12.9bil of investments, the manufacturing sector has contributed over RM6bil (46.6%) with FDI for the manufacturing sector was RM4.5bil (75.8%) while DDI is RM1.4bil (24.2%).
Lee also said the service sector has recorded a total committed investment of RM6.9bil where the FDI was RM3.4bil (49.2%) while DDI is RM3.5bil (50.8%).
“In our efforts to ensure that Johor continues to be an investment destination superior in the region, several initiatives have been and will be implemented.
“Among them are the establishment of Invest Malaysia Facilitation Center Johor (IMFC-J), which aims to reduce red tape and speed up the approval process,” he added.
Lee said this center would work as a bridge between investors and the government, ensuring that every process runs smoothly and efficiently.
He added IMFC-J also provides investors with comprehensive information about government policies, investment incentives, as well as business opportunities that exist in Johor to help investors make decisions.
Lee also said the implementation of Johor Fast Lane Initiative (JFL) cannot be ignored as it has been proven to accelerate the approval of investment projects by involving more than 17 technical agencies.
“With this simplified process, investors are able to start their operations faster, while increasing Johor’s competitiveness on the international stage.
“Steps like this are very relevant in an increasingly competitive global economic climate, where speed and efficiency be the key to success,” he added.
Lee said one project that would have a big impact on the state’s economy was the Johor-Singapore Special Economic Zone (JS-SEZ) where our position bordering Singapore, the government intend to make this zone as a trade and investment center which connects two countries that focus on high impact sectors.
He added that at the same time, the Forest City special financial zone (FCSFZ) was given attention special by the government where it is expected to become an international financial hub that offers various tax incentives and attractive service support to investors in the financial and technology sectors.
“With a zone like this, Forest City in Johor has great potential to become a major player in the landscape of global finance. Initiatives like this not only drive economic growth, but also open up high quality job opportunities for the people, especially in the professional services sector,” he added.
Lee said the issue of human capital development should not be taken lightly where to ensure Malaysia’s economic resilience, the Johor Talent Development Council (JTDC) would be established to ensure that Johor can produce a highly skilled workforce.
“Along with Industrial Revolution 4.0 and digital transformation that is sweeping the world, a highly skilled workforce is very much needed to meet the needs of an increasingly sophisticated industry.
“JTDC is responsible in design and implement relevant training programs for ensuring that our human capital is always ready to face future challenges,” he said.
He added the state government was committed to ensure that Johor continues to be competitive and sustainable investment destination.
Lee said efforts that have been and being implemented would not only attract more foreign investment and domestic, but also able to improve the standard of living through the creation of quality employment opportunities.
