RIYADH: Saudi Arabia’s state oil company Saudi Aramco’s US$7bil (RM31bil) investment into the Refinery and Petrochemical Integrated Development (RAPID) project at Pengerang in Johor will be the driving force for the economic development in the state. Johor Tourism, Domestic and Consumerism committee chairman Datuk Tee Siew Kiong said that Saudi Aramco’s decision to invest in the oil refinery and petrochemical integrated development project here shows that the state’s rapid development was a force to be reckoned with. “This establishes our position as one of the most comprehensive developments in the region,” Tee said during an HSBC China and Johor networking dinner on Tuesday. He added that this collaboration would prove to be beneficial for small and medium enterprises (SMEs) in the area, as well as for businesses related to oil and gas, raw materials, steel and rubber industry as well as construction companies. “SMEs should take hold of this opportunity as it will prove to be a huge benefit to their businesses,” he said, adding that it will also create more job opportunities for the people. “The rapid development of the state of Johor is something that can be seen, felt and touched by everyone,” said Tee, adding that the growth of the state was real and definite, and was not something the government was only boasting about. He added that Saudi Aramco’s decision to work with Petronas shows the faith and trust they have in our nation.
“They have faith in our people, our standards, as well as our people’s education,” he said. He added that after Saudi Aramco’s investment into the nation, many other countries were also interested to work with the country, especially in the Johor region. “Following the many Chinese companies that have set up investments here, and now with Saudi Aramco’s decision to work with us, many other countries are showing their interest in our region,” said Tee. He added that the state government is now striving to position Johor as a Southern economic powerhouse, not only in Malaysia but also in the South-East Asian region.
“Iskandar Malaysia continues to do well despite the challenges facing the global economy, and had recorded RM218.84bil in cumulative investment till the third quarter of 2016,” said Tee, adding that the government was confident 2017 would be a positive year for the state. He added that other than the Pengerang Integrated Petroleum Complex (PIPC), there were also various other economic initiatives to boost standing, such as the 101.17ha Ibrahim International Business District, which will transform Johor Baru into a metropolis of international standard. Tee also commended HSBC for organising the networking dinner, as it created a good platform for guests to strengthen their relationship and partnership with the Chinese investors from China. “The state government hopes HSBC Johor will be part of Team Johor, as well as our integral partner, as we strive to be the Southern Economic Powerhouse,” he said.
