Johor led all states in GDP growth last year, says exco man
The investment, trade, consumer affairs and human resources committee chairman said the state's performance reflected its readiness in spearheading the country's economy.
'The latest figures released by the Statistics Department of Malaysia (DOSM) showed Johor recording the highest GDP growth rate of 6.4% last year, higher than the national average of 5.1%.
'Johor's position as one of the top contributors to the nation's economy is cemented with a GDP value of RM158bil, placing us alongside Selangor, Kuala Lumpur and Sarawak,' he said in a Facebook post on Wednesday (July 2).
In 2023, Johor recorded a GDP of RM148.6bil.
He added that last year, the state's construction sector saw double-digit growth to 42.7% from 2023's 12.7%.
The state's growth is also driven by the services sector, which grew by 6%, and the manufacturing sector (4.2%), while the agriculture sector recovered to 4.2% after experiencing a decline of 1.3% in 2023, driven by an increase in oil palm production, he said.
He pointed out that besides the economic momentum, the state government is collaborating with the Federal Government to implement high-impact projects to boost Johor's competitiveness.
These include the expansion of the PLUS North-South Expressway and Senai-Desaru Expressway, elevated autonomous rapid transit in Iskandar Malaysia, public healthcare infrastructure, as well as improving logistics network and port facilities.
In terms of policies, Lee said the state is constantly improving the investment and workforce ecosystem via channels such as the Invest Malaysia Facilitation Centre Johor, an integrated federal-state facilitation platform for investors, and the Johor Talent Development Council.
'Johor's economic landscape is set to change again with the Johor-Singapore Special Economic Zone, a collaborative initiative designed to integrate the economies of Malaysia and Singapore through the easing of investment, mobility and trade.
'The Forest City Special Financial Zone, which is a hotspot for regional finance, digital and trade services, offers appealing tax packages and incentives.
'With this combination of projects and initiatives, along with Johor's strategic position as the gateway to Asean, we are on the right track to emerge as the new driving force of Malaysia's economy,' he said.
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