JOHOR BARU: Johor offers good growth prospects and business opportunities for domestic and foreign investors, especially in the country’s first economic growth corridor Iskandar Malaysia.
State MCA liaison committee secretary Chia Soon Cheng said the economic growth corridor has continued to attract strong interest from investors since its inception on Nov 4, 2006.
“Iskandar Malaysia is moving in the right direction with the progress and development taking place as outlined under its comprehensive development plan,’’ he said at the opening of the 6th Malaysia International Industrial Machinery Expo here.
Chia said that Iskandar Malaysia was the most successful economic growth corridor in Malaysia compared with four other economic growth corridors in the country.
Iskandar Malaysia is three times bigger than Singapore and two times the size of Hong Kong – it is divided into five flagship zones – JB City Centre, Iskandar Puteri formerly known as Nusajaya, Eastern Gate Development Zone, Western Gate Development Zone and Senai-Kulai.
The other corridors are the Northern Corridor Economic Region, the East Coast Economic Region, the Sabah Development Corridor and the Sarawak Corridor of Renewable Energy
Statistics from the Iskandar Regional Development Authority showed Iskandar Malaysia had from Nov 4, 2006 until to date recorded about RM208bil in total cumulative committed investments.
“Johor also remains as the top investment destination in the manufacturing sector in the country in the past six years,’’ he said.
Chia said Iskandar Malaysia’s close proximity to Singapore was an added advantage as investors and businesses have the best of both worlds.
The southernmost state in the peninsula recorded almost RM86.3bil in investments in the manufacturing sector from 2010 to 2015.
The influx of domestic and foreign investors from 2011 until 2015 in Johor, had created some 125,300 new job opportunities in several sectors.
The manufacturing sector alone provided over 20,000 new job opportunities, of which 92% are for semi-skilled and skilled workers.
Statistics from the Malaysian Investment Development Authority showed Johor had in 2013 received RM14.4bil in investment in the manufacturing sector and the figure went up to RM21.1bil in 2014 and RM30bil in 2015.Source: The Star Online