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Why Johor can be the Shenzhen of South-east Asia
There are reasons to be optimistic about the proposed Johor-Singapore Special Economic Zone – as long as critical policy changes are implemented.
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Johor is expected to attract some RM17 billion (S$4.8 billion) in 2024, making it among the top destinations for new investments in Malaysia.
ST PHOTO: KUA CHEE SIONG
Suan Teck Kin
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As economic growth targets go, this is perhaps one of the most ambitious. In September 2023, Johor’s Chief Minister Onn Hafiz Ghazi declared that the proposed Johor-Singapore Special Economic Zone (JS-SEZ) could help his state in Malaysia replicate the achievements of Shenzhen, in southern China.
Shenzhen’s development has been nothing short of impressive. Rising from a fishing village, the city transformed within 40 years into a glimmering metropolis. Today, it boasts China’s second highest per capita gross domestic product (GDP) of 183,274 yuan (S$35,641), just behind Beijing’s 190,313 yuan (S$37,010).
