Johor to finalise RM1.3 billion investment from Japan by Q3

Johor to finalise RM1.3 billion investment from Japan by Q3

TOKYO, Jan 21 — Johor will finalise potential new investment worth RM1.3 billion from three Japanese companies as early as the third quarter (Q3) of this year, said Menteri Besar Datuk Seri Mohamed Khaled Nordin.

He said the investments in oil and gas industry related downstream activities, manufacturing as well as facilities would be developed at two areas, namely Tanjung Langsat Industrial Complex, Pasir Gudang, and Johor Corporation’s (JCorp) industrial area, near the Refinery and Petrochemical Integrated Development (RAPID) project in Pengerang, Kota Tinggi.

Mohamed Khaled believed the decision would be favourable towards Johor based on the state’s record as a popular investment destination in Malaysia.

He said it was also supported by Johor’s strategic location, besides its capability to provide skilled and semi-skilled labour to the industries involved.

“The tendency of Japanese investors to invest in Johor is a positive sentiment amid the uncertain global economy,” he said to Bernama after chairing a meeting with four potential investors here, today.

Mohamed Khaled said Johor had earlier secured investment totalling RM500 million from two Japanese companies to operate in Tanjung Langsat.

He said the two companies had different backgrounds but would provide 450 job opportunities to local residents when the investment is implemented.

To-date, there are some 144 Japanese companies operating in Johor, out of which 59 per cent are operating at JCorp industrial area involving an investment value of RM4.48 billion.

The companies have provided 27,289 job opportunities to local skilled and semi-skilled workers.

— BERNAMA

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