All eyes on Johor's economic potential
JAPANESE companies will be able to evaluate Johor's economic potential and opportunities when Nikkei Forum Medini is held in Iskandar Puteri this month, says Invest Johor chief executive officer Natazha Harris.
He said the annual forum, a global platform, would be held outside Japan for the first time.
'This is a huge honour for Johor as this shows that Japan recognises the potential and growth of the state, especially the Johor-Singapore Special Economic Zone (JS-SEZ),' said Natazha.
The forum, to be held on June 18 and 19, typically hosts events and conferences that bring together leaders and experts to discuss opportunities and critical issues in Asia and provides a platform for cultivating partnerships in South-East Asia.
On the JS-SEZ, Natazha said 328 enquiries had been received to date, with some RM48.1bil in potential investments.
He said of the 47 potential investors, 40 were foreign while seven were domestic.
'At least five have confirmed that they will be investing in Johor,' Natazha said in an interview after opening the 1st Forest City Special Finance Zone International Investment Law Conference.
He said most of the enquiries about the JS-SEZ came from Singapore, China and European countries.
'Most of them are from digital economy and advanced manufacturing sectors,' he said, adding that the state government was also actively promoting Johor via trade missions.
According to Natazha, delegations had also visited China, South Korea and two countries in the Middle East.
He said investors usually asked about incentives offered, available talent and the ease of movement for captains of industry.
'Most of the companies' front offices are in Singapore while manufacturing and operations are in Johor.
'They want to know about ease of check-point clearance,' he added.
Meanwhile, Natazha said the JS-SEZ blueprint should be out by September.
'It is important for us to know where the RM5bil announced by the government for infrastructure development will be spent in the state.
'Although Economy Ministry is coming up with the JS-SEZ blueprint, Iskandar Regional Development Authority (Irda) and the state government sit on the committee,' he said, adding that the blueprint was a priority for Johor.
During the Special Finance Zone International Investment Law Conference, its committee chairman Jeff Leong said the forum was important as lawyers played a vital part in the international foreign direct investment (FDI) ecosystem.
The lawyers, he said, advised clients on where to invest as well as risk assessments.
'We are happy that there were many participants, not just from Malaysia but also Asean, China, India, countries within the Gulf Cooperation Council and even BRICS+ countries,' he said.
Leong said forum participants would be taking their understanding of Johor, especially the JS-SEZ and Forest City Special Finance Zone, to their clients upon returning to their respective countries.
He added that these major projects were game changers, making Johor one of the hottest spots to invest in Asia.
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