Latest news with #SingaporeSpecialEconomicZone
New Straits Times
02-07-2025
- Business
- New Straits Times
Johor's GDP share could exceed 12pct by 2030 on JS-SEZ momentum
KUALA LUMPUR: Johor's share of Malaysia's gross domestic product (GDP) could surpass 12 per cent by 2030 if investments in the Johor–Singapore Special Economic Zone (JS-SEZ) proceed as planned, according to CIMB Securities Sdn Bhd. Its senior economist, Vincent Loo, said this would be accompanied by a significant rise in GDP per capita to US$15,817,compared to US$9,179 in 2023. He said that while such an ambitious pace may be difficult to sustain, even achieving half the acceleration — bringing growth to 6.1 per cent annually — could deliver meaningful benefits. "Based on our estimates, this would raise Johor's GDP per capita to US$13,932 by 2030 and increase Johor's share of Singapore's GDP per capita to 11.6 per cent from 10.7 per cent in 2023, compared to 13.2 per cent if Johor's economy grows 8.4 per cent annually. "Over the longer term, continued convergence between the two economies could lift Johor's GDP per capita to 12.1 per cent of Singapore's by 2035 and 15.2 per cent should Johor's economy grow at an annual 8.4 per cent from 2025 to 2035," he added. Johor secured RM30.1 billion in approved investments in the first quarter of this year, of which RM26.9 billion came from foreign direct investment. Singapore emerged as the largest foreign investor, contributing RM28.3 billion across 65 projects, surpassing other major sources such as the United States (US$9.9billion) and China (US$7.9 billion). The JS-SEZ is a central pillar of Johor's Maju Johor 2030 plan, which targets RM260 billion in GDP by 2030, nearly double the state's 2023 output of RM148.2 billion. Loo said achieving this would require a compound annual growth rate of around 8.4 per cent annually, more than double its 3.8 per cent yearly growth between 2016 and 2023. He added that the growth strategy focuses on high-value sectors such as electrical and electronics, life sciences, the digital economy, green energy, electric vehicles, aerospace and logistics. "These sectors align with JS-SEZ priorities and signal a move up the value chain from Johor's traditional manufacturing base," he said. The Economy Ministry projects that the JS-SEZ could contribute RM117.1 billion to the country's GDP by 2030, representing an average annual uplift of RM19.5 billion, equivalent to 0.6 to one per cent of GDP per year from 2025 to 2030. Loo said the estimation assumes steady growth and a national GDP growth rate of 6 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 such as Customs, Immigration and Quarantine facilities and rail links. "Although Singapore has not issued a formal estimate, it is expected to benefit indirectly through increased offshoring to Johor, greater demand for Singapore-based services and improved access to Malaysian talent," he added.
The Star
03-06-2025
- Business
- The Star
Johor sets higher aquaculture output target
JOHOR BARU: Johor is targeting an increase in aquaculture production to 38,000 metric tonnes within the next two years as part of a long-term strategy to enhance food security and grow the state's agri-food sector. State agriculture, agro-based industry and rural development committee chairman Datuk Zahari Sarip said efforts are underway to strengthen the sector by encouraging participation from government-linked companies (GLCs) and private entities. 'One of the latest efforts comes from Kumpulan Prasarana Rakyat Johor (KPRJ), which is spearheading a pilot white shrimp farming project in Gelang Patah,' he said yesterday. Describing the move as timely and strategic, Zahari said the KPRJ project aligns with the state's priorities to ensure long-term food resilience while creating new economic opportunities. 'Johor's aquaculture production in 2024 is 32,000 metric tonnes, and the state government is targeting an increase to 38,000 metric tonnes by 2027,' he said, adding that high-tech, high-yield farming systems, especially those involving GLCs, are crucial to reaching the target. Zahari added that the pilot project will be developed in the Aquaculture Industrial Zone (ZIA) and will involve the construction of two high-density polyethylene ponds. These ponds, he said, will lay the foundation for commercial-scale white shrimp farming using modern aquaculture techniques to boost yield and reduce environmental impact. The ZIA already houses 12 operational shrimp ponds developed by the Johor Farmers' Organisation and the Johor Baru Southern Area Farmers' Organisation, positioning Gelang Patah as one of the state's most important hubs for aquaculture development. 'With KPRJ's involvement, we expect this area to grow in significance. The shrimp farming project is also part of broader initiatives under the Johor–Singapore Special Economic Zone, which focuses on cross-border collaboration and integrated economic development,' Zahari said. The state government, he added, is optimistic about aquaculture's potential to contribute meaningfully to Johor's economy while reducing reliance on imported seafood. The pilot project will be closely monitored by the state government, with hopes it can be expanded and replicated in other parts of Johor. 'The Johor government is committed to supporting innovative approaches in aquaculture, especially those involving close collaboration between government agencies, GLCs and local farming communities,' Zahari said.
South China Morning Post
19-02-2025
- Business
- South China Morning Post
Johor-Singapore SEZ gets US$150 million boost from Hong Kong battery maker
The much-touted Johor- Singapore Special Economic Zone (JS-SEZ) has received one of its earliest investors in battery maker Gold Peak Technology Group, with the Hong Kong-listed firm intending to expand production outside mainland China in light of global uncertainties. It is the first company to use a new Green Lane initiative, launched on Wednesday by state government office Invest Johor and United Overseas Bank (UOB), which will allow investors to fast-track their entry into the special economic zone, according to UOB. Gold Peak is investing about 670 million ringgit (US$150 million) to build a new facility combining manufacturing and research and development in Johor under the JS-SEZ, with a letter of intent signed at a conference in Malaysia 's Johor on Wednesday. Daniel Chua, Gold Peak's senior vice-president, told reporters that as the company was starting a new production line for its nickel-zinc batteries in China, the need for an overseas plant became clear. 'This special economic zone presents a very big opportunity for us to scale up our production, and at the same time to address the global market, other than just [the] China market,' Chua said. On whether the move was to sidestep US tariffs on Chinese companies, Chua said: 'Aside from us needing to rebalance our production rather than focusing on just one area, we are expanding outside of China at the same time because of this uncertainty. It certainly will help us to alleviate some of the issues.'
