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Johor likely to have highest investments in Malaysia

posted 2 Oct 2011, 05:29 by Straits View

PUTRAJAYA: Johor is likely to win the most investments among Malaysian states this year, says Deputy International Trade and Industry Minister Datuk Mukhriz Tun Mahathir.

For the first six months of the year, Johor attracted RM4.52 billion in approved investments.

"At the pace it is growing, it will have the highest investments which bodes well for Iskandar Malaysia and the state in general," he said at a briefing to announce Solexel Inc's investment in Senai Hi-Tech Park yesterday.

According to the Malaysian Industrial Development Authority (Mida), 74 projects were approved between January and May, totalling RM4.0 billion, of which RM2.75 billion were from domestic investments.

"Note our figures did not include those in the oil and gas sector. Petronas announced a big petrochemical plant in Johor, that will be very sizeable."

Petronas recently announced it would set up a RM60 billion refinery and petrochemical integrated development (Rapid) petrochemical complex in Pengerang by 2015.

The Iskandar Regional Development Authority also recently announced total cumulative committed investments of RM75.96 billion in the first half of 2011.

Read more: Johor likely to have highest investments in Malaysia