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Johor's Invest Malaysia Facilitation Centre (IMFC), set to be completed this year, is poised to attract a wave of new investors into the state, according to Johor Menteri Besar Datuk Onn Hafiz Ghazi. The IMFC, a joint effort between the state government and the Ministry of Investment, Trade and Industry, is seen as a game-changer and catalyst for Johor’s economic development.
In a recent meeting with Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, it was agreed that Johor would establish an investment facilitation centre. This one-stop facility will house federal and state agencies involved in investments, marking a significant collaboration that sets the Johor IMFC apart from the Kuala Lumpur IMFC, which lacked such cooperation.
"This special collaboration is one of its kind, and we target it (the Johor IMFC) to be ready this year to facilitate investors into the state as announced during the creation of the Johor Singapore Special Economic Zone (JS-SEZ)," said Onn Hafiz during a press conference.
The JS-SEZ, outlined in a memorandum of understanding signed by Singapore and Malaysia in January, aims to create a conducive economic environment in the region. The Johor Fast Lane concept, another initiative to streamline business processes, has already attracted 30 investors across four local councils in 2023, with plans for further expansion.
Onn Hafiz also addressed concerns regarding electricity and water supply, stating that Johor has a surplus of electricity, far exceeding the required capacity, which will benefit various economic sectors, including industrial areas. Additionally, the state's water supply is deemed sufficient for the short and medium term, as confirmed by Ranhill SAJ, the state’s sole water operator.
Encouraging industrial players and investors to consider Johor for their investments, Onn Hafiz highlighted the state's commitment to providing a conducive environment for business growth.
He emphasized that Johor's strategic location, well-established infrastructure, and strong government support make it an attractive destination for investments. The state's commitment to sustainable development and its efforts to reduce bureaucratic red tape further enhance its appeal to investors.
Onn Hafiz also noted the importance of collaboration between the public and private sectors in driving economic growth. He highlighted the need for continuous engagement and dialogue to address the challenges faced by investors and ensure a conducive business environment.
In conclusion, Onn Hafiz expressed confidence in Johor's economic prospects, citing the state's resilience and ability to adapt to changing global dynamics. He reiterated the government's commitment to supporting businesses and creating a conducive environment for investment, paving the way for sustainable economic growth in Johor.
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