Johor to get RM500mil investment from Japanese company

Johor will get new investment inflow worth RM500mil from a Japanese multinational corporation that is keen to undertake operations based in Tanjung Langsat, near Batu Pahat.

Mentri Besar Datuk Mohamed Khaled Nordin said that the Japanese company was interested to set up operations at the Tanjung Langsat industrial area in Pasir Gudang.

This area is dedicated to petrochemical and oleochemical-based related activities.

“We are going to Japan in two weeks’ time to meet with the company and also with other potential investors,“ said Mohamed Khaled.

He said this to reporters in a press conference after opening the first franchised Burger King outlet at Jalan Jelawat, Taman Banang here yesterday.

Mohamed Khaled said that Johor has the right ecosystem to continue attracting domestic and foreign investors, adding thyat the state had always been the preferred investment destination in the country.

“In 2014, we received about RM24bil investments in the manufacturing sector and last year the figure was about RM30bil,“ he said.

He said Johor was confident of maintaining the momentum in attracting news investments despite the challenging global economic situation.

He said the state government would go all out to attract foreign MNCs based in the Chinese first-tier cities to relocate parts of their operations to Iskandar Malaysia as the cost of doing business in the Chinese first-time cities escalated.

Apart from the MNCs in China, many Japanese companies especially the small and medium enterprises were also looking to relocate their operations to Asean countries, said Mohamed Khaled.