KUALA LUMPUR: The Johor-Singapore Special Economic Zone (JS-SEZ) is poised to contribute an additional US$28 billion (US$1=RM4.50) to Malaysia’s annual gross domestic product (GDP) by 2030, said Economy Minister Rafizi Ramli.
He said Johor’s economy currently contributes about 9.0 per cent to the country’s GDP and is set to position itself as a rival to the Klang Valley over the next five to 10 years.
“A SEZ that covers two countries is very rare in the world. Others are implemented under one jurisdiction.
“Therefore, we have to harmonise a lot of things. So, the process was complex, but it was helped by the fact that I think both the teams on Malaysia and Singapore’s side understand the value proposition,” he said during a fireside chat titled “From ‘Made in Malaysia’ to ‘Made by Malaysia’” at the Forum Ekonomi Malaysia (FEM) 2025 today.
Rafizi said JS-SEZ will create a new engine of growth for Malaysia.
“If we can leverage the complementary elements of Singapore, Johor should be able to be that new engine of growth in the next decade,” he said.
The formal JS-SEZ joint agreement was signed Tuesday, signalling a new chapter of economic growth and cross-border collaboration, bringing substantial opportunities to Iskandar Puteri and the wider region.
Prime Minister Datuk Seri Anwar Ibrahim and Singapore Prime Minister Lawrence Wong witnessed the exchange of joint agreements between Malaysia and Singapore on the JS-SEZ.
