NUSAJAYA: The state’s foreign direct investment (FDI) is expected to get a huge boost with about RM49bil expected to be pumped into the oil and gas sector next year.
Johor Mentri Besar Datuk Abdul Ghani Othman in his Budget speech at the state assembly yesterday said that so far Johor had received RM2.6bil in FDI in the first half of the year.
“Right now, we are only second to Sarawak when it comes to foreign investments and this accounts for 16.3% of the country’s total investments.
“Our FDI for the first six months of this year has increased by 20.9% or RM45mil compared with the same period last year,” he said.
He added that the major investors were from Singapore, Japan, Korea, Austria and the United States.
He said that the major sectors were electrical and electronics, food manufacturing, textiles and textile products, non-metal products and the chemical and chemical products industry.
He also explained that 78.6% of the investments in the state were new.
As for the state Budget next year, he said the government would take measures to lower its deficit by about 45%.
According to Ghani, the projected deficit for next year would be RM1.5mil as compared to the 2009 budget deficit of RM2.75mil.
“The total expected revenue for next year will be RM784.15mil while expenses will be about RM785.65mil,” he said.
He also explained that the states management expenditure would be increased by 4.93% to RM785.65mil.
Of the management expenditure RM300.11 would be for emolument, RM228.57mil for development, RM36.51mil for agriculture and rural development and RM10.2mil for local government and housing, he said.
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