INVESTOR CONFIDENCE IN JOHOR REMAINS STRONG

ISKANDAR PUTERI, July 7 (Bernama) -- Johor Menteri Besar Datuk Dr Sahruddin Jamal has denied allegations by the opposition that investor confidence towards investing in the state has purportedly declined.

He said investor confidence towards the conditions and economic ecosystem of Johor remained strong and could be seen from the highest annual investments received in Malaysia.

Other than this, the state’s economic growth prospects was also seen as positive, with the growth rate projected at between five to 5.5 per cent for this year.

bootstrap slideshow

“As such, the opposition should not be too worried with the planning and number of foreign investors coming to Johor.

“The investments Exco (Jimmy Puah Wee Tse) together with federal government agencies such as MIDA and state government entities through the Johor State Investment Centre, government linked companies (GLCs) and state government departments, have redoubled efforts towards attracting more companies from both locally and overseas to invest in the state,” Dr Sahruddin said.

He highlighted this in his winding up speech at the Johor State Assembly meeting here today.

The state assemblyman for Bukit Kepong said Johor’s position in being close to Singapore, would continue to provide an economic edge to the state in the future.

Meanwhile, on the issue of GLCs that are said to be unprofitable and burdening the government, Dr Sahruddin said a special unit would be created to analyse and monitor investments being made by them, including those that are under the Johor state treasury.

“This unit will review and monitor the financial performance of the GLCs periodically, as well as propose the best measures to enhance performance.

“This will indirectly help the state government as a catalyst for the development of Johor and in carrying out its social responsibility to the people, including the construction of  affordable housing, educational facilities and making available public infrastructure,” he added.

On the state government’s initiative to review the quit rent for 2020-2029 which is now in its final stage, Dr Sahruddin said it would be based on five principles, among which is imposing a more suitable and reasonable quit rent based on conditions, usage and land area.

At the same time, it is hoped that this would encourage the entry of foreign investors and boost growth of investments locally, as well as enhance revenue received by the state government.

-- BERNAMA