Johor has right ecosystem to attract best investors
JOHOR needs to review its strategies to continue attracting quality as well as capital-intensive and high-tech investments into the state, say business leaders. Iskandar Malaysia Chamber of Commerce and Industry secretary-general Md Salikon Sarpin said the state had the right ecosystem to attract world-class investors. Though Johor was not listed as among the four states which outperformed the country’s gross domestic product (GDP) growth and surpassing the national average in 2022, he said it was not a setback. “It should drive Johor to work even harder to continue developing and positioning itself as the top investment destination in Malaysia,” he added. He was commenting on the report by the Statistics Department which listed Penang (13.1%), Selangor (11.9%), Pahang (10.8%) and Kuala Lumpur (9.2%) outperforming the country’s GDP. The department said the four states’ growth contributed significantly to the country’s overall progress, surpassing the national average in 2022. Malaysia’s GDP grew to 8.7% last year. The report also stated that the manufacturing sector was the key economic driver for Penang with its electrical, electronic and optical products, and increased global demand for semiconductors.
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