PONTIAN: Political stability is the main factor that foreign investors are looking at beforeinvesting in a country, said Johor Tourism, Trade and Consumerism committee chairman Datuk Tee Siew Kiong.
He said this would lead to the influx of investors and companies that would create economic spillover and help to boost the local economy by creating many job opportunities for the locals.
"The business sector will also benefit from the spillover as consumers will spend their earnings on essential items and services and the multiplier effect is tremendous," he told reporters at a press conference at the opening of Lionmas Furnishers (M) Sdn Bhd Pontian branch here recently.
Tee said the progress and development taking place in Iskandar Malaysia since the inception of the country’s first economic growth corridor on Nov 4, 2006, was testimony of the political stability enjoyed not only in Johor but also Malaysia.
He said the on-going multi-billion ringgit oil and gas hub, Pengerang Integrated Petroleum Complex in Kota Tinggi in the southeast of Johor, was another testimony that peace and stability were important to create confidence among investors to invest in the project.
Lionmas Furnishers (M)Sdn Bhd executive chairman Gan Cheng Swee said the Pontian branch would help to serve its loyal customers in the district better as the outlet offered a wide range of electrical products at reasonable prices under one roof.
"Presently, we have 39 outlets in the country, with 30 in Johor, one in Seremban, three in Malacca and five in Kuala Lumpur.
"We are planning to open more outlets in the future," he said.
Gan said the company had in June this year formed a partnership with Beko Appliances (M) Sdn Bhd, offering electrical items carrying European brands at all the company’s outlets to give a wider choice to customers.