Johor is to emerge as the
richest state in Malaysia
by 2025, overtaking Selangor, if the current trend of development pace and investment
inflows continues, an analyst with an investment bank said today.
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 Malaysia ,
having attracted more than one-fourth of the RM383 billion total investment
target by 2025.
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 Austin
Heights Water
Theme Park is due to open
its doors soon. All these parks will provide ample jobs to our youths," he
said.
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 Singapore provided an added
advantage to us than to our neighbours," he added.
Meanwhile, a restaurateur in
Skudai, Mohd Kassim Ali, 52, readily acknowledged that he could feel the
spinoffs emanating from Iskandar Malaysia development.
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 Malaysia ,
he said.
"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.
-- BERNAMA
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