Johor Expects Investment Climate To Remain Healthy In 2008

JOHOR BAHARU, Jan 5 (Bernama) -- The investment climate in Johor is expected to stay healthy in 2008 with investment figures likely to exceed the performance last year.

"As things stand now, we are in the process of negotiations in 32 projects worth an estimated RM8 billion in investment. So things are looking up and it would not be surprising at all if we were to exceed last year's (investment) figures," said Johor Mentri Besar Datuk Abdul Ghani Othman.

He also pointed to the Government's initiative and commitment in establishing the Iskandar Development Region (IDR).

The state received investment totalling RM8.14 billion, including RM5.8 billion foreign direct investment (FDI), for the first 10 months of 2007, he said at a press conference after the launching of the Nusa Cemerlang Industrial Park (NCIP) here today.

The NCIP is located in the heart of the IDR on a 210.8 hectares site and offers a wide range of factory lots such as semi-detached and detached factories.

The industrial park is being developed by Crescendo Corporation Bhd.

Abdul Ghani said in the past, Johor used to attract repeat investors only, but now 70 percent of the investment are new ones, which is a healthy development for the state and shows that it is a profitable place to invest.

He said the Johor's State Government will be developing 400 hectares site near the Senai Airport as a high-tech industrial park.

Initially, the state would spend RM120 million to built the infrastructure, and once fully completed, it would be something like the Kulim Hi-Tech Park, he added.