KUALA LUMPUR, Jan 9 — Economy Minister Rafizi Ramli today said the Johor-Singapore Special Economic Zone will contribute about US$28 billion (RM125.9 billion) to the country’s gross domestic product (GDP) annually in the next 10 years.
He said the zone has the potential to rival the Klang Valley as a major contributor to Malaysia’s economy within the next decade.
“Early estimates put JS-SEZ contribution to about US$28 billion in addition to our gross domestic product every year. It can easily rival Klang Valley in the next ten years,” he said during a fireside chat at the Malaysia Economic Forum here.
Rafizi said the JS-SEZ presents its own set of challenges and opportunities.
“Each of the economies, Johor in Malaysia and Singapore, has many complementary elements that can offer very good value propositions to investors worldwide, especially when global companies are looking to manage their geopolitical race.
“There are significant concerns about supply chain disruptions, and the location of operations is crucial to building a more robust supply chain,” he said.
JS-SEZ is poised to become a regional economic powerhouse, fostering investments, creating jobs and encouraging sustainable development.
Its primary goal is to attract both foreign and local investments, enhancing industrial capacity, infrastructure and technological innovation while promoting sustainability.
The zone seeks to leverage its strategic location near Singapore to enhance its appeal as a hub for investment and innovation.
Johor aims to position itself as a regional hub for manufacturing, logistics, technology, and tourism.
JS-SEZ covers strategic areas across Johor, with key developments concentrated near the Johor-Singapore border.
