KUALA LUMPUR, (March 9): The Johor government expects the state economy to continue to grow positively, moderating between 4.1% and 5% in 2023, in line with the modest growth trend at the national level.

Johor Menteri Besar Datuk Onn Hafiz Ghazi said the state’s gross domestic product (GDP) growth last year was estimated at around 6.5% to 7.1%, one of the highest growths among states in Malaysia.

He said to achieve the target, Johor would be looking at China as a major potential investor for the state given the gloomy global economic outlook.

“We have met many investors from China and I see that growth can be achieved not only (from) China but also European countries,” he told reporters after the Malaysian Investment Development Authority (Mida) Invest Series: Unfolding State’s Business Potential of Johor briefing session here on Thursday (March 9).

Moving forward, he said the state must be focused and committed to growth.

Onn Hafiz has set a lofty target of increasing Johor's GDP to RM260 billion by 2030, which will require the state to expand at an average of seven per cent from now to 2030.

"It is a tall order, but one that is not impossible if we always put our best foot forward,” he said.

In order to grow at this desired rate, he said the state must improve its overall business environment and provide a conducive ecosystem to attract and retain quality investments and talent.

In terms of the total approved investments for 2022, Johor reached an all-time high of RM70.6 billion, which is the highest in the country, with approximately 12,000 jobs created from these investments in manufacturing, services, and primary sectors.

Meanwhile, Mida chief executive officer Datuk Arham Abdul Rahman said the government has undertaken significant efforts to enhance the efficiency of its business processes to increase efficiency and ease of doing business, with Mida's Project Acceleration and Coordination Unit ([email protected]) providing professional expert assistance to investors.

He said [email protected] has facilitated over 4,000 manufacturing projects to date, which has also had a positive impact on Johor.

As of November 2022, a total of 759 out of the 953 approved projects or 80 per cent have been successfully implemented.

As the country's leading investment promotion and development agency, Mida is working to promote the digital technology sector, including data centres, cybersecurity, artificial intelligence, creative and digital content, and solution providers.

"Our efforts are supported by the MyDIGITAL blueprint, which targets RM70 billion in digital investment by 2025, contributing 22.6 per cent to the country's GDP and creating half a million job opportunities,” he said.