Johor Stands To Gain US$190 Mln Potential Investments From South Korean Firms

JOHOR BAHRU, Oct 30 (Bernama) -- The Johor government has held meetings with several renowned South Korean companies, which can potentially bring strategic investments valued at US$190 million (US$1=RM4.38) into the state.

Menteri Besar Datuk Onn Hafiz Ghazi, who is on a four-day working visit to Seoul starting Oct 28, said the state government delegation led by him has had the opportunity to meet companies such as Hanwha Solutions Corporation, a Fortune Global 500 multinational known for innovations in clean energy and chemicals.

The delegation also met with global food company SPC Group, which has famous franchise brands such as Paris Baguette, as well as CJ CheilJedang Group, producer of halal Korean food in Malaysia, he said in a Facebook post today.

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Onn Hafiz said these potential investments would create high-income jobs as well as economic spillover and development that would enhance the prosperity of the people in Johor.

“I believe all these companies have confidence in Johor’s potential as a strategic investment destination. Johor offers not only huge business opportunities but also a conducive ecosystem for long-term growth given its (strategic) position and continued support,” he said.

In a separate post, he said the delegation also participated in a seminar to discuss potential investment opportunities in Johor, especially in view of the development of the Johor-Singapore Special Economic Zone (JS-SEZ).

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The seminar titled “Unlocking regional growth: Business opportunities in JS-SEZ” saw the participation of 83 renowned Korean companies from various industries, thus becoming a strong platform to promote Johor as a top choice for investors who seek a strategic and sustainable destination.

“At this seminar, I shared various strategic initiatives that the state government is or will be implementing with the cooperation of the Federal Government in relation to the JS-SEZ development in order to attract high-quality investments.

“Various preparations are being carefully made that reflect Johor’s seriousness in ensuring the success of this important agenda, such as the setting up of the Invest Malaysia Facilitation Centre Johor (IMFC-J) as a ‘one-facilitation centre’ and the development of the Johor Talent Development Council (JTDC),” he added.

Onn Hafiz also expressed confidence that Johor is the right springboard for investors to expand their business in the ASEAN region due to its strategic position as well as the attractive incentives offered by JS-SEZ, in addition to providing broad growth opportunities and direct access to the global market, which make it an ideal choice for long-term investments.

-- BERNAMA