JOHOR BARU, June 22 — Collective effort by the Johor state government and related agencies post-pandemic has successfully putting its economy on a much stronger footing, said its Menteri Besar Datuk Onn Hafiz Ghazi.
Citing several statistics, he said Johor’s economy is growing positively and is among the strongest in Malaysia.
“In line with the moderation at the national level, we expect the state economy to continue to grow positively, moderating to between 4.1 and five per cent this year.
“We have also demonstrated solid repayment capability, as our revenue and cash reserves exceed the requirements to cover our debts. A 3.75 per cent increase in revenue is expected in 2023 while operating expenses are expected to drop by 11 per cent.
“We are committed to prudent and transparent fiscal management,” he said in his keynote address at the Johor Business and Investment Forum here today.
Apart from that, the Machap state assemblyman also said thriving investment flows into Johor has resulted in the state emerging as the number one foreign direct investment (FDI) destination in Malaysia with over RM70.6 billion.
“In fact, Johor was the top recipient of approved investments in manufacturing projects between 2013 and 2021, totalling an impressive RM156.48 billion.
“This momentum continued in the first quarter of this year as we attracted RM10.6 billion in approved investments, more than triple the investments received in the same quarter last year at RM 3.2 billion, and second only behind Kuala Lumpur,” he added.
On achieving Maju Johor Vision 2030, the Menteri Besar said there is a need for a collaboration between government agencies and the private sector in its implementation.
The state government must provide a conducive ecosystem to attract and retain quality investments and talents/ There is also emphasis on sustainability via the environmental, social and governance (ESG) framework, with supporting programmes to help manufacturers, especially exporters, to comply with ESG requirements of other international markets, Onn Hafiz said.
“We are actively seeking more investments in renewable energy and other green technology, which also support the growth of other new industries such as data centres.
“Let me assure you that the Johor government is committed to encouraging investment into the state as we transition to the new economy. We are willing and able to consider reasonable incentives or remove obstacles to facilitate this,” he said. — Bernama
