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BUSINESS

Johor targets seven per cent annual growth to achieve RM260 bln GDP by 2030

14/06/2022 04:48 PM

JOHOR BAHRU, June 14 (Bernama) -- Johor is targeting an economic growth of seven per cent annually in its effort to achieve a Gross Domestic Product (GDP) value of RM260 billion by 2030.

Menteri Besar Datuk Onn Hafiz Ghazi said while the goal may seem ambitious, it can be achieved if all quarters are committed to its realisation.

The state also needs to rebuild all its economic sectors that contribute to the GDP and hence continue to expand rapidly, he said.

“It is important to ensure that Johor is successful in reaching the GDP of RM260 billion by 2030, which is more than double the present size of the state’s economy.

“This requires Johor’s economy to grow at about seven per cent per annum. I admit that it is a lofty goal. However, I believe that it is not impossible to achieve if all quarters are committed towards realising it,” he said at the Johor Menteri Besar mandate ceremony at the Persada Johor International Convention Centre here today.

More than 1,600 state and federal civil service employees attended the ceremony. Also present were Johor state secretary Tan Sri Dr Azmi Rohani and Johor police chief Comm Datuk Kamarul Zaman Mamat.

Onn Hafiz said a growing economy will contribute to an increase in state revenue and offer room and opportunities to assist the people in a better and more effective way.

“We have to ensure that the economic cake is enlarged so everyone will have an opportunity to receive a larger slice,” he noted.

He said the effort to attract high-quality investments must also be strengthened, including welcoming foreign investments with open arms by improving the ease of doing business for all investments.

“An accommodative economic policy and quality investments must be injected quickly, especially in facing the disruptive era.

“However, we are aware that there are limited government funds for economic development through state and federal spending. Therefore, we have to increase efforts to attract quality investments that can provide the best added value and create high-paying jobs for the people,” he said. 

Onn Hafiz said the state government will also provide business incentives for investments in selected sectors that will have a major impact on Johor’s economic growth and take into account the interest of and dynamic relations with regional economies including Singapore, which is among the top investors in the state. 

Meanwhile, he also announced that the state government has identified 3,000 acres (about 1,214 hectares) which will be planted with high-value crops intended for export as well as the domestic market.

He also expressed hope that Johor will be able to master all activities along the food value chain in a bid to make the “farm to fork” aspiration a reality. 

-- BERNAMA

 


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