KUALA LUMPUR: The Johor-Singapore Special Economic Zone (JS-SEZ) will easily rival the Klang Valley in terms of economic contributions for the nation within the next decade, says Rafizi Ramli (pic).
The Economy Minister said early estimates projected an additional US$28bil to Malaysia’s annual gross domestic product (GDP).
“The whole area, if it goes as planned, will easily be able to rival the Klang Valley in the next five, 10 years,” he said during a fireside chat session at the Malaysia Economy Forum here on Thursday (Jan 9).
Rafizi added that both Malaysia and Malaysia also understood the value proposition.
“Our plan at the Economy Ministry is to create a new engine of growth.
“Of all areas in Malaysia, common sense tells you that if we can leverage on the complementary elements of Johor and Singapore, Johor should be able to be that new engine of growth in the next decade,” he said.
Rafizi also said the concept of an SEZ covering two different countries is very rare, adding that most are implemented under one jurisdiction.
“We need to see how we operate a single economic unit that is subject to regulations, laws and national policies of two countries.
“Both countries have to harmonise with their respective ministries and then we must come together and harmonise between both countries,” he said.
The JS-SEZ, which encompasses an area of 3,505sq km, is a unique initiative between Malaysia and Singapore to promote both nations and attract investments.
