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Chinese firms to invest RM2 billion in Johor  

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Malaysia’s thriving Johor will likely to receive RM2 billion worth of investments from three big Chinese firms this year, read a recent report from The Star.The news comes after Johor Domestic Trade, Tourism and Consumerism Committee chairman Datuk Tee Siew Kiong's visit to Dongying in Shandong, China recently.Datuk Tee revealed to The Star that the Johor state government and the three investors are in talks to set up operations in Johor that involve one re-investment and two new investments. He said the amount includes about US$100million (RM399million) for the expansion of the second phase of Shandong’s D&Y Textile and Garment Group, which has been operating at Jorhor’s Sedenak Industrial Park since 2015.Meanwhile, the other two new investors are said to be from tyre production and green technology industries.Datuk Tee said that Johor has been able to maintain its position as the top investment state in Malaysia, grossing some RM66.6 billion in the past three years with Chinese companies, particularly in manufacturing, contributing to most of the investments. In 2013, the state secured approximately  RM14.4 billion in investments, which rose to RM21.1 billion and RM31.1 billion in 2014 and 2015, he said.Datuk Tee said existing Chinese investors in Johor had praised the state's efficiency and delivery system.China is one of the top five foreign investors in Malaysia. China's other investments include the purchase of 1MDB’s energy assets in Edra Global Energy Bhd for RM9.83billion by state-owned China General Nuclear Power Corp and the multi-billion ringgit buy of a substantial equity stake in Bandar Malaysia by China Railway Construction Corporation end of last year.China Railway Engineering Corporation also announced plans to set up its regional headquarters in Bandar Malaysia that will host the main terminal for the planned KL-Singapore High Speed Rail.

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