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
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).
