Latest news with #RM19.5
The Sun
13 hours ago
- Business
- The Sun
Johor-Singapore SEZ to boost state GDP share above 12% by 2030
KUALA LUMPUR: The Johor-Singapore Special Economic Zone (JS-SEZ) is expected to propel Johor's share of national gross domestic product (GDP) to exceed 12 per cent by 2023, should their investments materialise according to plan, said CIMB Investment Bank Bhd In a note, the investment bank said JS-SEZ could contribute RM117.1 billion to the country's GDP by 2030, representing an average annual rise of RM19.5 billion — equivalent to 0.6–1.0 per cent of GDP per year from 2025 to 2030. Achieving this would require a compound annual growth rate (CAGR) of around 8.4 per cent per annum (p.a.), more than double its 3.8 p.a. growth during 2016–2023, it noted. 'This estimate assumes steady growth and a national GDP growth rate of 6.0 per cent. 'Key growth drivers include rising domestic and foreign investment in sectors like logistics, healthcare, tourism, and the digital economy, as well as enhanced labour mobility, improved cross-border trade facilitation, and major infrastructure upgrades,' it said. Johor's investment momentum has surged in the first quarter of 2025 (1Q 2025), securing a total of RM30.1 billion in approved investments, driven by JS-SEZ initiatives and pro-business reforms. Singapore was the largest investor in 1Q 2025 with 65 projects worth RM28.3 billion in approved FDI, beating other contenders such as the United States (RM9.9 billion) and China (RM7.9 billion). These investments are expected to generate 33,000 new jobs and put Johor on track to surpass its 2024 approved investments record of RM48.5 billion, and Johor Menteri Besar Datuk Onn Hafiz Ghazi is now targeting RM60 billion-RM100 billion in approved investments for 2025. According to CIMB Investment, investors' focus will be on key zones like Forest City and Sedenak, led by data centres, electrical and electronics, electric vehicles, and the logistics sectors. 'The JS-SEZ blueprint clearly outlines sector priorities to designated zones, ensuring focused development and ecosystem clustering. Delivering on these projects will establish Johor as a diversified and globally connected economic engine by 2030,' it said. CIMB Investment added that the JS-SEZ is also expected to strengthen the Johor-Singapore economic corridor, enabling a twin-city model similar to Shenzhen-Hong Kong. 'Johor offers scale, land, and labour, while Singapore brings capital, finance, and global networks. Their integration creates a compelling, cost-efficient destination for global investors, with seamless operations across both jurisdictions,' it said.
Daily Express
2 days ago
- Politics
- Daily Express
It's up to the court: Hajiji
Published on: Tuesday, July 01, 2025 Published on: Tue, Jul 01, 2025 Text Size: Hajiji said the GRS State Government is committed to ensuring integrity in the administration and management of the Government. Kota Kinabalu: Chief Minister Datuk Seri Hajiji Noor said the State Government is leaving the matter of two assemblymen facing corruption charges to the legal process. 'We respect the law and we will let the legal process take its course. The Gabungan Rakyat Sabah (GRS) State Government will not interfere in any investigation and legal action on any of its government leaders,' he said in a statement, Monday. He was commenting on Sindumin Assemblyman Datuk Dr Yusof Yacob and Tanjung Batu Assemblyman Datuk Andi Muhammad Suryady Bandi, who were charged with corruption before Sessions Court Judge Jason Juga, here, Monday. On their position in the present government, Hajiji said he would consider this carefully in due course after all relevant information and reports have been received. Hajiji said the GRS State Government is committed to ensuring integrity in the administration and management of the Government. Andi, who is Assistant Industrial Development and Entrepreneurship Minister, and Dr Yusof, who is Qhazanah Sabah Berhad Chairman, have been accused of receiving money from one Dato Tei Jeinn Cheing as an inducement to assist in securing a mineral exploration licence for two companies owned by his (Tei's) business partners. Tei was also charged in the same court for giving bribes (see separate reports on this page). At the Lotud Cultural Festival at Hone Hall in IPGM Kent, Tuaran, earlier, Hajiji urged the people not to be influenced by unverified stories making the rounds in social media. He said with election looming, many untruths are being spread in the social media platforms. 'Do not make the wrong choice, the present State Government has made many achievements in developing Sabah through strategic planning in education, tourism and collaboration with Petronas to get more revenue for the State. 'This election is a major challenge and it is a golden opportunity for the people to choose a government that is not only sensitive to the needs of the people but is also a government that is based on local aspirations,' he said. The Chief Minister also said only during the GRS administration has so much assistance been rendered to students. Never before were Sabah students studying in Peninsula Malaysia able to return to their hometown during all major festivities. 'We want to help lessen the burden of our students,' he said. Hajiji said investments have been coming into Sabah so much so the Sabah Oil and Gas Industrial Park (Sogip) in Sipitang is now fully occupied. The latest is a Singapore-based company which is bringing in RM19.5 billion total investments in three phases, he said, adding that in the first phase alone, the project required some 8,000 jobs. 'This is our aspiration to create jobs for the people of Sabah,' he said. The Chief Minister also lauded the initiative of the organiser of the BBKWDDP Lotud Cultural Festival to help preserve the Lotud community's culture and tradition. 'The State Government fully supports such initiatives that strengthen cultural values and empower youth through heritage and cultural activities,' he said. Hajiji reiterated his hope for the Dusun Lotud to become a progressive race and be at par with other communities in the State. The BBKWDDP Lotud Cultural Festival involved seven villages: Batangan, Barus, Korompitut, Wokok, Dungang 1, Dugang 2 and Pendamai. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
