JOHOR BARU: Johor’s political stability is a huge pull factor that helped the state emerge as the number one foreign direct investment (FDI) destination in Malaysia with over RM70.6bil last year, says Datuk Onn Hafiz Ghazi.
Mentri Besar Datuk Onn Hafiz Ghazi said following the state election in March last year, Johor became a politically stable state.
Onn Hafiz said this in his keynote speech when opening the first Johor Business and Investment Forum at a hotel here on Thursday . He added that Johor remains an attractive investment destination as the cost of doing business is 30% lower than Kuala Lumpur and 70% lower than Singapore. “We have the land, resources and talent that may be scarcer in Kuala Lumpur and Singapore. We are also more cost-effective.“We are also aware that we must be consistent in our efforts to not only recover but ensure Johor is plugged into the new economy,” he said, adding that the state government is seeking to double Johor’s gross domestic product by 2030 to RM260bil.
To achieve this target, a growth of more than 7% has to be achieved from now to 2030 and strategic planning and efforts have been put in place,” he added.
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