Johor to get half of RM170 billion worth of China investments

Of the RM170bil, Johor would be getting RM80bil from China's largest petrochemical company, Rongsheng Petrochemical Co Ltd.


April 6, 2023

JOHOR BARU – Johor is getting a big slice of the RM170bil worth of investments Malaysia will receive from China, claims state investment, trade and consumer affairs committee chairman Lee Ting Han.

He said that of the RM170bil, Johor would be getting RM80bil from China’s largest petrochemical company Rongsheng Petrochemical Co Ltd.

“The state government has been carrying out its own efforts to attract more foreign investors to make Johor the main investment destination in the region.

“We have been helping Rongsheng since July last year when they made a series of trips to Pengerang in Kota Tinggi before they decided to invest in Malaysia.

“In fact, the company had many discussions with Johor Mentri Besar Datuk Onn Hafiz Ghazi in Kota Iskandar before meeting again during his official visit to Singapore in February this year,” he said during in a press conference after visiting the Johor Baru-Singapore Rapid Transit System (RTS) Link marine viaduct at Stulang Laut here on Tuesday (April 4) evening.

He thanked Prime Minister Datuk Seri Anwar Ibrahim and International Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz for meeting with the company’s highest management in Beijing recently and successfully obtaining their commitment to invest in Malaysia.

“If realised, it will be the largest project in Malaysia after the Petronas Integrated Refinery and Petrochemical Complex (Rapid) project,” he added.

The Malaysian delegation led by Anwar made an official visit to China from March 29 to April 1.

The visit saw Malaysia securing RM170bil worth of investment commitments from China.

Anwar also met Chinese President Xi Jinping and witnessed the signing of 19 MOUs with his counterpart Li Qiang.

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