Johor on track to hit RM100b investment target after posting RM91.1b in Q3

ISKANDAR PUTERI, Nov 18 — Johor is leading to achieve the RM100 billion in committed investments target for the third quarter for this year, following the latest figures from the Malaysian Investment Development Authority (Mida).

Johor Investment, Trade, Consumer Affairs and Human Resources Committee chairman Lee Ting Han said the state continues to record the highest committed investment with RM91.1 billion as of the third quarter of this year.

He said the figure has surpassed the combined committed investment amounts of RM43 billion in 2023 and RM48.5 billion for last year.

“The Johor government has been consistent in its efforts to strengthen its international investment promotion network to attract high-quality investments.

“This is in-line with Johor’s aspirations as a regional investment gateway through the Johor-Singapore Special Economic Zone (JS-SEZ).

“The Johor government is confident that the state is on track to achieve the target of RM100 billion this year,” Lee said at the Johor state legislative assembly session in Kota Iskandar here today.

He was responding to a question from Tan Eng Meng (BN–Pekan Nanas) on Johor’s international investment promotion plans after the state government’s recent working visit to the United States (US) and United Kingdom (UK).

Lee added that Johor’s international investment promotion was not just a diplomatic mission, but a working visit that brought tangible and immediate economic results to the state.

The Paloh assemblyman said the state government through Invest Johor and other investment agencies had also formulated several follow-up initiatives following the overseas trip.

“The initiative focuses on three main aspects, namely investor return visits, participation in global investment forums and strengthening investment and diplomatic networks with overseas agencies.

“Among the key steps included the investor return visits to inspect local sites and workforce, participation in the Second Johor-Singapore Special Economic Zone Forum to strengthen investor confidence and briefings with Mida offices abroad to coordinate investment promotions,” he said.

Earlier, Mida announced the latest total committed investment up to the third quarter of this year where Johor recorded the highest, followed by Selangor (RM51.9 billion), Federal Territory (RM45.9 billion) and Penang (RM23.7 billion).