BUSINESS

Establishment of JETCO bears fruit, attracts FDI to Johor

08/12/2022 12:13 PM

ISKANDAR PUTERI, Dec 8 (Bernama) -- The establishment of the Johor Economic Tourism and Cultural Office (JETCO) in Singapore this year has borne fruit as it also contributed to attracting foreign direct investment (FDI) to the state.

Chairman of Johor Investment, Trade and Consumer Affairs Committee Lee Ting Han said it was also helped by the cooperation of the Malaysian Investment Development Authority and Invest Johor.

He said that through JETCO, a series of 15 discussions with various agencies in Singapore were held and three series of familiarisation trips involving businessmen from Singapore to Johor were organised.

As of June this year, Lee said a total of RM6.668 billion investment in the manufacturing sector had been recorded, RM5.65 billion of which was FDI.

“Of the RM5.65 billion, RM3.968 billion is investment from Singapore mostly in the electrical and electronics (E&E) and medical device sectors.

“I believe this is among JETCO’s successes and next year, the state government will be more active in attracting investment from overseas, including Singapore,” he said when answering additional questions at the Johor State Legislative Assembly (DUN) meeting at Bangunan Sultan Ismail here today.

Lee (BN-Paloh) answered additional questions from R. Vidyananthan (BN-Kahang) regarding the effectiveness of JETCO in bringing investment from Singapore to Johor and the amount of investment that the agency has brought.

While giving verbal replies, he said the agency has implemented various initiatives to attract more investment and cooperation opportunities through smart collaboration with related agencies from Singapore.

JETCO has also participated in three expos related to trade and tourism in Singapore, he added.

“All the efforts that have been implemented are seen to have a very positive and encouraging impact,” said Lee.

Lee was replying to former Johor Menteri Besar Datuk Hasni Mohammad’s (BN-Benut) question on what initiatives JETCO would implement in the republic, especially in multiplying the opportunities for Johor-Singapore cooperation in the field of sustainable development.

-- BERNAMA


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