Johor bahru: Investor confidence in Johor remains strong even though the country is currently facing considerable challenges with the global supply crisis, said Johor Menteri Besar Datuk Onn Hafiz Ghazi. Onn Hafiz highlighted that the confidence was partly driven by the Johor-Singapore Special Economic Zone (JS-SEZ) initiative, which is seen as a driver of economic growth in Southeast Asia.
According to BERNAMA News Agency, cooperation from the Malaysian Investment Development Authority, the Ministry of Investment, Trade and Industry, the Ministry of Finance, and state government agencies such as Invest Johor, local authorities, and land offices has facilitated the smooth flow of investment into the state. Onn Hafiz emphasized that this collaboration has made Johor an attractive destination for investors, even amidst global challenges, due to the ease of doing business in the region.
At the Johor State Legislative Assembly (DUN) sitting, Onn Hafiz (BN-Macap) responded to a supplementary question from Anuar Abd Manap (BN-Pemanis) about the state government's confidence in increasing state revenue and attracting investments, given the uncertain global economic situation and rising oil prices. He asserted that Johor continues to present administrative stability to attract investment, despite geopolitical uncertainties in West Asia.
He further noted that the state government's visits to China, including trips to Shanghai and Beijing in December last year and April this year, have resulted in more than 30 companies expressing interest or intention to expand their operations in the JS-SEZ area. This interest from companies reflects Johor's ongoing efforts to engage with potential investors and showcase the advantages of investing in the state.
Last year, Johor recorded the highest investment amount of RM110 billion, setting a new record for the country. Onn Hafiz stated that this success not only marks a new record but also signifies the transformation of Johor's economic structure, which is becoming increasingly mature and competitive. The growth momentum is further driven by the development of the JS-SEZ and the state's strategic location near one of the most developed and dynamic economies in Asia.