Johor is to emerge as the richest state in
by 2025, overtaking Selangor, if the current trend of development pace and investment
inflows continues, an analyst with an investment bank said today. Malaysia
Dr Nazri Khan, Affin Investment Bank Vice-President and Retail Research Head, said the projection was not something impossible to achieve with Iskandar
Malaysia, one of the five economic corridors in ,
having attracted more than one-fourth of the RM383 billion total investment
target by 2025. Malaysia
He said the economic growth brought to Johor by Khazanah Nasional Bhd, the government's investment arm, is seen as among concerted initiatives by the government to establish an economic hub in Johor outside the Klang Valley.
"We will see Johor transform into an
Orlando in Florida
and become Asia's Theme Park Hub with the
presence of at least four theme parks in the state.
"They include Legoland
Malaysia which opened recently, Puteri Harbour
Family Entertainment Centre and is due to open
its doors soon. All these parks will provide ample jobs to our youths," he
The 2012/2013 Economic Report issued by the Finance Ministry on Sept 28 said job opportunities in Johor are expectex to double when some projects come on stream in the next five years such as Pinewood Iskandar Malaysia Studios, MSC Cyberport City and Urban and Resort Wellness.
At the same time, Nazri said efforts to attract cash-rich Middle Eastern investors, who have the capital to invest, must be pursued to maintain the development momentum in Johor.
He said the massive oil and gas project in Pengerang is being initiated at a timely juncture when the world demand for oil and gas was spiralling.
"Moreover, Pengerang's demographic location in the middle of the international shipping route to
Indonesia and provided an added
advantage to us than to our neighbours," he added. Singapore
Meanwhile, a restaurateur in Skudai, Mohd Kassim Ali, 52, readily acknowledged that he could feel the spinoffs emanating from Iskandar
With the oil and gas project in Pengerang and with various other development projects in the drawing board under the Iskandar Malaysia economic corridor, Johor has become the latest trade focus in
he said. Malaysia
"Johor has become the focal point now as people from throughout the country are flocking to the state in search of high-paying jobs," he said.
Development projects implemented by the state government with the support of the federal government have given an "assurance" to Johor-born school leavers of ample job prospects and a decent income, he added.