Wealth summit sees call to boost investment in specific clusters

THERE are many business opportunities in Malaysia, especially in specific growth clusters in different states, says a real estate property consultant.

KGV International Property Consultants (M) Sdn Bhd director Samuel Tan said it was vital to identify these clusters and encourage more investments in them.

He said Johor was known for its food processing, petroleum and chemical processing, electrical and electronics, logistics, education, medical, financial, tourism and information technology (IT) clusters.

“Investments in these clusters will help develop not just the state but also the country,” he said at the launch of the one-day Wealth and Asset Summit 2023 in Johor Baru.

Tan, who is the organising committee chairman, said the recent announcement by Prime Minister Datuk Seri Anwar Ibrahim on the special economic zone in Johor Baru was exciting for the market.

“Other catalytic projects such as the Rapid Transit System (RTS), Double-Tracked Electrified Rail, and Iskandar Bus Rapid Transit (BRT) in Johor Baru are now the focus point of many investors from overseas and locally.

“This will speed up the realisation of the previously announced Hong Kong-Shenzhen model where the best of Singapore and Johor is harnessed,” he said, adding that there were many investors who were keen to be a part of the changing investment landscape in Johor.

Tan noted that the world was still feeling the effects of the Covid-19 pandemic.

“It is projected that the global economic growth will slow from 3% in 2023 to 2.7% in 2024.

“In Malaysia, the economic growth is projected to be 4% in 2023 and 4.8% in 2024,” he said.

Also at the summit were Johor Housing Development Corporation chief executive officer Datin Paduka Suhailizan Suliman, Singapore consul-general in Johor Baru Jeevan Singh and Indonesia consul-general in Johor Baru Sigi Suryantoro Widiyanto.

During the event, at least eight people including from Johor Women’s League (Jewel) were honoured for their accomplishments.

Tan said this was the first-ever wealth and asset summit in Malaysia.

“This event had been held in Europe and the Middle East and now for the first time in Asia.”

The summit, attended by about 300 local and foreign players from various industries, was structured to educate people on the techniques of wealth creation.