Investor Confidence In Johor Remains Firm Amid Global Supply Crisis - Onn Hafiz

ISKANDAR PUTERI, May 4 (Bernama) -- 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 said 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.

He said 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.

“This is the reason, when investors come to Johor, with the challenges that occur globally, they recognise our seriousness, as there is ease of doing business,” he said at the Johor State Legislative Assembly (DUN) sitting here today.

Onn Hafiz (BN-Macap) was replying to a supplementary question from Anuar Abd Manap (BN-Pemanis) regarding the state government’s confidence in increasing state revenue and attracting investments, given the uncertain global economic situation and rising oil prices. 

In this regard, he said Johor continues to come forward on the world stage by offering administrative stability to attract investment, despite geopolitical uncertainties in West Asia. 

He said this confidence could be seen in several state government visits to China, including to Shanghai and Beijing, in December last year and April this year, following requests from companies interested in investing in Johor. 

“As a result of our visit, more than 30 companies have shown interest or intention to expand their operations in the JS-SEZ area,” he said. 

Johor recorded the highest investment amount of RM110 billion last year, setting a new record for the country.

Onn Hafiz reportedly said that the success was not just a new record, but rather reflected the transformation of Johor’s economic structure, which is becoming increasingly mature and competitive.

The growth momentum is also 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.

-- BERNAMA