KOTA ISKANDAR, July 2 — Johor registered RM24 billion in foreign direct investment last year, a four-fold increase from 2017 that gave the state the honour of being the country’s biggest investment earner, said a state official.
Johor International Trade, Investment and Utilities Committee chairman Jimmy Puah Wee Tse said the figure in 2017 was RM5.102 billion.“This also shows that foreign investors have high confidence in Johor compared to other states,” said Puah when replying to questions by Datuk Md Othman Yusof and Abd Taib Abu Bakar at the Johor state assembly in Kota Iskandar today.He said Indonesia, concentrating in the oil-and-gas industry in Pengerang, topped the list with FDI in the state totalling RM8.
“In addition to Indonesia, the Netherlands ranked second with RM7.57 billion, China and followed by the United States . “The petroleum industry, including petrochemicals, has emerged as the top foreign investment in Johor with a value of RM11.834 billion followed by the electricity and electronics industry with RM8.315 billion and the chemical and chemical products industry at RM2.364 billion,” said Puah.
Puah said he expects the country's economy to remain positive this year as the national macroeconomic fundamentals remain strong despite domestic and external challenges.
Source: News Formal (newsformal.com)
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