Johor records RM43b in 2023 investments

Malay Mail
Malay Mail

ISKANDAR PUTERI, May 16 — Johor made RM43 billion worth of investment last year, state executive councillor in charge of investment, trade, consumer affairs and human resource Lee Ting Han told the state legislative assembly today.

He said RM31 billion was from foreign direct investment (FDI) and RM12 billion from domestic direct investment (DDI) .

The manufacturing sector contributed more than RM9.4 billion in FDI with the main investors coming from Singapore, Taipei and the United States.

“The DDI for manufacturing is at RM5.1 billion and total investment for the sector stood at RM14 billion.

“The service sector contributed RM28.4 billion that consisted of RM21.5 billion in FDI coming from Singapore, China and South Korea,” he said.

Lee was replying to a question by backbencher Hahasrin Hashim (BN-Panti) who wanted to know the total FDI and DDI that Johor received for last year.

Lee, who is the Paloh assemblyman, said a total of 19,053 job opportunities were created from the 751 investment projects that have been approved.

He explained that the manufacturing sub-sectors involved electrical and electronics manufacturing, chemicals and chemical products as well as machinery and equipment.

“The sub-sectors for the service sector included information and communications technology (ICT), which involved data centres, cloud sharing services, software and system design, as well as creative and digital content,” he added.