Johor targets high-growth sectors to drive economic expansion

Publish date: Fri, 08 Nov 2024, 01:02 PM

JOHOR BAHRU: Johor's economy is expanding into high-growth sectors, including food technology, agritech and renewable energy, showcasing the state's adaptability to global trends.

State Investment, Trade, Consumer Affairs and Human Resources Committee chairman Lee Ting Han said these areas reflect Johor's responsiveness and readiness to embrace change.

"In food tech, we're exploring sustainable agriculture solutions for domestic and international markets, while agritech enables efficient, technology-driven agricultural production.

"Clean energy is another sector we're keen to expand, with projects that contribute to a sustainable economic future. We're also actively seeking partners who can support and accelerate these initiatives, making Johor a leader in responsible growth and innovation," he said in a Facebook post.

Lee added that Johor's growth is anchored by partnerships with industry leaders committed to sustainable, high-value development.

"One recent example is our RM500 million collaboration with Fuji Oil Asia Pte Ltd through Johor Plantations Group, a fully owned subsidiary of Johor Corporation.

"Furthermore, our recent discussions with over 80 South Korean companies reflect Johor's global appeal and our openness to international collaboration," he said.

He also pointed to an upcoming agreement with Singapore on the Johor-Singapore Special Economic Zone (JS-SEZ), set to be signed on Dec 8 or 9 this year, as a key part of Johor's broader economic strategy.

"This SEZ is more than just an economic zone; it is a model of economic integration within Asean, designed to facilitate cross-border investments, streamline regulations, and connect regional markets.

"Asean, with a population currently of 700 million, is projected to become the fourth-largest market in the world by 2030, up from fifth today. Our combined GDP is about US$3.8 trillion (US$1 = RM4.38), with intra-regional trade of about US$3.5 trillion," he added.



  - Bernama

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