Johor-Singapore SEZ to Boost Malaysia's GDP by RM125b Annually, Set to Surpass Klang Valley in a Decade
In a significant development, Economy Minister Rafizi Ramli announced that the Johor-Singapore Special Economic Zone is poised to make a substantial contribution to Malaysia's economy, with an estimated annual addition of RM125.9 billion to the country's gross domestic product. This strategic initiative is expected to propel the region's growth, potentially rivaling the economic prowess of Klang Valley within the next 10 years. As a major economic hub, the Johor-Singapore SEZ is anticipated to attract significant foreign investment, create jobs, and stimulate economic activities, thereby driving Malaysia's economic growth and development. With its strategic location and favorable business environment, the SEZ is set to become a key driver of the country's economic progress, aligning with the government's vision for a more prosperous and sustainable future. Key initiatives such as infrastructure development, trade facilitation, and investment promotion will be crucial in unlocking the SEZ's full potential, and realizing its goal of becoming a major economic powerhouse in the region, boosting economic growth, and enhancing the country's competitiveness in the global market.