Singapore investment of RM6.95b involving 301 project creates 350,000 job opportunities

JOHOR BARU: Singapore has invested RM6.95 billion in the manufacturing sector, involving 301 projects, which created 350,000 job opportunities, said State Tourism, Domestic Trade and Consumerism executive committee chairman Datuk Tee Siew Kiong (pix).
Disclosing to theSun, he said, Singaporeans who have higher purchasing power due to higher currency value have been investing in Johor.
"Singapore is the second largest of FDI (Foreign Direct Investment) in Johor for the last five year(2011-2015). They also like our eco-tourism, the variety of food, and the irresistible tropical fruits," he said, adding that Johor Baru, once a fishing village, has turned into a vibrant city with the aim of becoming the second largest city after Kuala Lumpur.
He said the Sultan of Johor, Sultan Ibrahim Sultan Iskandar's vision is to transform the state capital into a boutique city and financial hub.
The Sultan also wants to personally attract investors to the state, not only from China but the Middle East to start projects in Johor.
The Ibrahim International Business District (IIBD) is expected to help Johor Baru achieve world city status and metropolis status soon.
Keeping in line with the developments, Tee said, more shopping malls, including four more mega malls, are to be build in the near future.
"The tourism sector is another boost to the state as it brings in revenue, especially to the food and service industry," he said, adding tourism has contributed 11.7% of the state gross domestic product (GDP).
He said connectivity and collaboration had helped create a stronger economy and the state will continue to grow to availability of land.
He also said the RM240 million Sungai Segget Rejuvenation Project by Iskandar Regional Development Authority (Irda) was another area which can boost revenue, especially with the completion of the mitigation and sewerage system projects and the river beautification project.
Iskandar Regional Development Authority (IRDA) planning and compliance department head Maimunah Jaffar said with the completion of the projects, the river will have clean water, as clean as Singapore river in the lion state.
As one goes to the state, several multi-million projects can be seen taking place with a city skyline also in the pipeline.
According to Johor Mentri Besar, Datuk Mohamed Khaled Nordin he wants the state to develop and be competitive in the local and international market, despite the uncertainty of global economy scenario.