Malaysia's Johor state is proposing its economic and petrochemical hubs for a giant special economic zone (SEZ) in collaboration with neighboring Singapore. This ambitious project aims to establish Johor as the "Shenzhen of Southeast Asia," according to a Star report.
Key Details of the Johor-Singapore Special Economic Zone
- Location: The proposed zone encompasses Iskandar Malaysia and Pengerang on Johor's east coast, with a total area of 3,505 square kilometers – nearly double the size of China's renowned Shenzhen.
- Timeline: An agreement between the two countries was reached in January 2024, with Malaysia aiming to finalize and sign a pact by year-end. Official discussions are expected to begin in June 2024.
- Sectors: The zone will focus on 16 economic sectors, including electronics, manufacturing, healthcare, and tourism.
What Johor and Singapore Aim to Achieve
This joint economic zone initiative seeks to transform Johor into the region's equivalent of Shenzhen, capitalizing on geographical similarities between the areas.
Components of the Proposed Zone
- Iskandar Malaysia: Established in 2006, this 2,217 square kilometer economic corridor encompasses Johor's key infrastructure and real estate projects, including Johor Bahru city center and Forest City.
- Pengerang: This area is known for the Pengerang Integrated Petroleum Complex, a major petrochemical facility that includes the Pengerang Energy Complex being developed by Singapore's ChemOne Holdings.
