Johor exco: Jetco brought in investment worth nearly RM4b from Singapore to state

Malay Mail
Malay Mail

JOHOR BARU, Dec 8 — The Johor Economic, Tourism and Cultural Office (Jetco) in Singapore, which started operations in the first quarter of last year, has successfully brought investments valued at RM3.968 billion.

State Investment, Trade and Consumer Affairs Committee chairman Lee Ting Han said the success in achieving the figure was made possible with the cooperation of the Malaysian Investment Development Board (MIDA) and Invest Johor.

He said that through Jetco a total of 15 discussion engagements with various agencies in Singapore were held, in addition to having three official visits involving businessmen from Singapore to Johor.

"As of June this year, a total investment of RM6.668 billion in the manufacturing sector was recorded, of which RM5.65 billion are in the form of foreign direct investments (FDI).

"Out of the RM5.65 billion, RM3.968 came from Singapore investments with most of it in electricity and electronics as well as medical equipment," said Lee at the state legislative assembly at Bangunan Sultan Ismail in Kota Iskandar here today.

He was responding to questions by Datuk Seri Hasni Mohammad (BN-Benut) and R. Vidyananthan (BN-Kahang) on the effectiveness of Jetco in bringing in investments.

Lee, who is also a Paloh assemblyman, said that Jetco has implemented various initiatives to attract more investment and cooperation opportunities through smart collaborations with the relevant agencies from Singapore.

He added that Jetco had also participated in three expositions related to trade and tourism in Singapore.

"All the efforts that have been implemented are currently seen to have a positive and encouraging impact.

"I believe this is one of Jetco’s successes,” he said, adding that by next year the state government will be more active in attracting investment from outside, including Singapore.

Jetco is a state agency staffed by the Johor Civil Service to attract investments as well as to promote tourism and culture in Singapore. Its objective is to pave the way for direct investments between Johor and Singapore.