Latest news with #JS-SEZ
Barnama
4 hours ago
- Business
- Barnama
JCorp Actively Redefining Johor's Economic Architecture
REGION - SOUTHERN > NEWS By Mohd Khairi Idham Amran JOHOR BAHRU, May 29 (Bernama) -- Johor Corporation (JCorp) is actively redefining Johor's economic architecture beyond traditional sectors by shaping the next wave of industry platforms, from advanced manufacturing and food tech to digital infrastructure, circular economy systems and artificial intelligence (AI)-enabled agriculture. President and chief executive Datuk Syed Mohamed Syed Ibrahim said that through these, the state government-owned company is building industries and shaping a responsible, future-ready economy. bootstrap slideshow 'JCorp is focused on execution-building ecosystems, enabling capital flows and driving long-term growth aligned with Maju Johor 2030.' 'We are not waiting for growth to happen, we are shaping its direction through bold investments, system-level design and long-term execution,' he told Bernama in an interview recently. He said as Johor accelerates into a new economic chapter shaped by global megatrends and catalysed by the Johor-Singapore Special Economic Zone (JS-SEZ), JCorp is strategically placed to function as an enabler of growth and collaboration. 'We are leveraging the JS-SEZ to position Johor as a high-value innovation corridor. With Singapore on our doorstep, Johor has the advantage of proximity and potential, making it ideal for next-generation industries such as electrical and electronics, digital economy, green economy, halal industry, food technology, agritech and renewable energy. 'Our single most strategic initiative within the JS-SEZ, Ibrahim Technopolis (IBTEC), is poised to generate strong multiplier effects, particularly in job creation and business opportunities,' he said. He said IBTEC is designed to support infrastructure development, innovation clusters and platforms in line with sustainability principles and the New Industrial Master Plan (NIMP) 2030.
New Straits Times
5 hours ago
- Business
- New Straits Times
JCorp actively redefining Johor's economic architecture, according to its chief
JOHOR BAHRU: Johor Corporation (JCorp) is actively redefining Johor's economic architecture beyond traditional sectors by shaping the next wave of industry platforms, from advanced manufacturing and food tech to digital infrastructure, circular economy systems and artificial intelligence (AI)-enabled agriculture. President and chief executive Datuk Syed Mohamed Syed Ibrahim said that through these, the state government-owned company is building industries and shaping a responsible, future-ready economy. "JCorp is focused on execution-building ecosystems, enabling capital flows and driving long-term growth aligned with Maju Johor 2030." "We are not waiting for growth to happen, we are shaping its direction through bold investments, system-level design and long-term execution," he told Bernama in an interview recently. He said as Johor accelerates into a new economic chapter shaped by global megatrends and catalysed by the Johor-Singapore Special Economic Zone (JS-SEZ), JCorp is strategically placed to function as an enabler of growth and collaboration. "We are leveraging the JS-SEZ to position Johor as a high-value innovation corridor. With Singapore on our doorstep, Johor has the advantage of proximity and potential, making it ideal for next-generation industries such as electrical and electronics, digital economy, green economy, halal industry, food technology, agritech and renewable energy. "Our single most strategic initiative within the JS-SEZ, Ibrahim Technopolis (IBTEC), is poised to generate strong multiplier effects, particularly in job creation and business opportunities," he said. He said IBTEC is designed to support infrastructure development, innovation clusters and platforms in line with sustainability principles and the New Industrial Master Plan (NIMP) 2030. Syed Mohamed said JCorp is also working closely with agencies such as the Malaysian Investment Development Authority (MIDA) and Invest Johor to streamline investor facilitation and enable regulatory alignment. He said JS-SEZ provided a foundation for inclusive industrialisation and JCorp is prioritising initiatives that create entry points for local talent and businesses within this framework while also attracting high-impact global players. "JCorp sees both tracks as essential. We are investing in the growth of Johor-based companies to scale regionally while building the infrastructure and conditions to attract high-impact global players," he said. He said JCorp's role is to develop industrial ecosystems that allow Johor-based companies to scale by connecting them to international markets as well as enabling infrastructure and collaborative platforms. Elaborating further, he said these environments are designed not just to host businesses but to help them grow through co-location, shared services and innovation-driven partnerships. "At the same time, we are curating environments where foreign investors don't simply extract value but contribute meaningfully to the local economy through technology transfer, supplier integration and talent development "Foreign partnerships matter but scaling local champions is how Johor wins," he said. Syed Mohamed said JCorp is also actively participating in talent development to ensure an ample supply of workforce. "Critically, we are ensuring that talent development keeps pace. Johor Skills Development Centre and our partnership with the Johor Talent Development Council (JTDC) are building a robust talent pipeline through targeted technical education and cross-border industry immersion programmes. He said Johor Skills is delivering modular programmes focused on sectors such as advanced manufacturing, renewable energy and data infrastructure. "In collaboration with Republic Polytechnic and the Institute of Technical Education Singapore, we aim to upskill or reskill 10,000 workers per year by 2027 to support sector-specific workforce readiness in the JS-SEZ," he said. JS-SEZ is a joint initiative by Malaysia and Singapore to create a dynamic and competitive economic hub in Johor by leveraging synergies between both countries with the aim of attracting investment, enhancing connectivity and fostering inclusive growth through tax incentives, infrastructure development and streamlined business processes.
Straits Times
18 hours ago
- Business
- Straits Times
Economy Minister Rafizi resigns from PM Anwar's Cabinet after losing in PKR polls
Economy Minister Rafizi Ramli has resigned from Cabinet on May 28, as promised after losing the Parti Keadilan Rakyat deputy presidency. PHOTO: BERNAMA – Economy Minister Rafizi Ramli resigned from Cabinet on May 28, as promised, after suffering defeat at the hands of Prime Minister Anwar Ibrahim's daughter at the ruling party's polls on May 23. His departure, to take effect on June 17, will leave a gap at a time when Malaysia's economic reforms are stalling due to global headwinds. Datuk Seri Rafizi's ally, Natural Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad, also announced his exit from Cabinet effective July 4, confirming a report by The Straits Times. He cited his failure to defend his position as one of four vice-presidents for stepping down. Mr Rafizi and Mr Nik Nazmi will be on leave immediately. In the campaign leading up to Parti Keadilan Rakyat's (PKR) internal elections, Mr Rafizi had said that he would leave Cabinet should he fail to defend the deputy presidency. Ms Nurul Izzah Anwar took close to three quarters of the vote. Most of those in Mr Rafizi's slate were also defeated in the polls, which were marred by accusations of nepotism, money politics and fraud. 'I joined politics to inculcate a new political culture based on accountability and the people's mandate. My loss at the recent PKR elections means I no longer have the mandate from my party to translate the people's agenda,' he said in a statement on May 28. Mr Rafizi noted that the practice in any nation that places importance on democratic principles is for leaders who lose in party polls to make way for the winners to take positions in government. Ms Nurul, in addressing allegations of nepotism when announcing her candidacy for the PKR's No. 2 spot on May 9, had said: 'I am not interested in a Cabinet position.' The 44-year-old former parliamentarian said in response to Mr Rafizi's resignation: 'His ideas will not be forgotten but will be continued, refined and implemented, not because they came from him or myself but because they are what is best for Malaysia.' Mr Rafizi's resignation leaves his former ministry, which is charged with economic planning, in the lurch ahead of the parliamentary tabling of the 13th Malaysia Plan, a five-year development blueprint, that must now be helmed by his replacement less than two months before the federal legislature reconvenes. 'My final duty as economy minister has been completed, with the 13th Malaysia Plan finalised and now set to be tabled at the next Parliament sitting. I hope the Cabinet retains several bold reforms that involve the Education Ministry,' Mr Rafizi said. Among major projects spearheaded by him were subsidy rationalisation across a broad spectrum of products, especially energy, progressive wages and the Johor-Singapore Special Economic Zone (JS-SEZ). After the planning phase, these initiatives are usually handed over to the relevant ministries. Investors are still waiting on final blueprints for the JS-SEZ's nine flagship zones to boost growth, while a closely watched revamp of the entry-level RON95 petrol price is still being fine-tuned. Mr Nik Nazmi was also a key figure in the retargeting of electricity subsidies before the energy portfolio was handed over to Deputy Prime Minister Fadillah Yusof. Datuk Seri Anwar has thus far not responded to the two ministers quitting his administration, but he had earlier on May 28 replied to reporters 'who told you?' when asked if Mr Rafizi was leaving Cabinet. The PKR president could avoid an immediate reshuffle by appointing acting ministers from the existing Cabinet members. By the end of 2025, he will also have to select a new investment, trade and industry minister as Tengku Zafrul Aziz's final term as senator ends. Aside from picking the best people for the respective portfolios, selecting a Cabinet that is representative of the ruling alliance is a difficult juggling act due to the disparate nature of his multi-coalition government of former bitter foes. Shannon Teoh is The Straits Times' bureau chief for Malaysia, where he has reported on various beats since 1998. Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
2 days ago
- Business
- Business Times
Batam, Johor, Da Nang: Asean's new growth cities
[HO CHI MINH CITY] Infrastructure development and breakthrough incentives within special economic and trade zones are drawing global businesses, investors and talent beyond Asean's traditional metropolises to emerging 'second cities' such as Johor Bahru, Da Nang and Batam. While smaller and less globally known than capital cities or primary metropolises like Kuala Lumpur, Jakarta, or Ho Chi Minh City, these rising hubs are capturing attention for their investment potential, quality of life and innovation ecosystems. 'These shifts reflect a broader trend of decentralisation, synergistic and regional growth within Asean,' said Govinda Singh, executive director at Canada-based investment management company Colliers International. He added: 'What sets successful rising cities apart is their ability to enable ease of doing business, investment in infrastructure and long-term policy stability.' Why 'second cities' are taking off In today's competitive environment, he noted that investors seek clear value propositions, such as cost advantages, special economic zones, talent pipelines and logistics connectivity. 'Ultimately, it's not just about being cheaper than the capital cities; it's about leveraging comparative strengths, being smarter, more specialised and investment-friendly,' he added. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up Sam Cheong, head of group foreign direct investment advisory at UOB, observed that traditional economic hubs like Singapore, Jakarta or Ho Chi Minh City are increasingly facing resource constraints to accommodate the needs of foreign direct investment effectively. This has given rise to the emergence of new hubs, especially those near established ones. The Business Times takes a closer look at these emerging cities that have been in the spotlight in recent years. Johor Bahru: Riding Singapore's ripple Johor Bahru's strategic southern location, less than 30 km from Singapore, positions it uniquely. The Johor-Singapore Causeway, a vital link handling over 300,000 daily crossings, is one of the busiest border checkpoints in the world. In January 2025, Malaysia and Singapore officially launched the Johor-Singapore Special Economic Zone (JS-SEZ), a cross-border initiative by both nations to harness the power of their proximity. Siva Shanker, chief executive officer of the estate agency at Rahim & Co International, said: 'With ongoing infrastructure projects and various incentives in place, the JS-SEZ presents compelling opportunities for business owners considering relocation or expansion in this region.' Amid the ongoing global trade headwinds, Dr Wong Chin Yoong, an economics professor at Universiti Tunku Abdul Rahman Malaysia, said that the potential of cities like Johor Bahru could drive greater intra-Asean collaboration, as the region requires a development strategy that buffers it from geo-economic risks. 'This necessitates greater intra-Asean interdependence through cooperative initiatives that minimise exposure to super power competition, enhance regional resource sharing, and cultivate Asean as a significant regional power in both production and consumption,' he said. The demand for Johor Bahru real estate is rising on the back of the progress made in the building of the railway shuttle linking Singapore and Johor Bahru and the establishment of the JS-SEZ. PHOTO: BT FILE Batam: Indonesia's fast-charging digital hub In Indonesia, Batam, located about 20 km south of Singapore, is also fast rising as a key hotspot for investments for data-centre operators, power developers and semiconductor manufacturers, giving Johor a run for its money as the top destination for companies expanding beyond the city-state. The growth is especially bolstered by Batam's Special Economic Zone perks and direct subsea cable links that tether it seamlessly to Singapore's digital backbone. For example, the Nongsa Digital Park, located on Batam's north-eastern tip and designed to support the digital economy, is a few kilometers away from the landing of 13 submarine cables that link it directly with various parts of Indonesia, Singapore, Malaysia and the US West Coast. The city's biggest win so far was Apple's landmark US$1 billion commitment to produce AirTags on the island, marking a major milestone in Batam's evolution into a regional tech and data hub. Nongsa Digital Park is a designated Special Economic Zone in Indonesia focusing on digital technology and tourism activities. PHOTO: NONGSA DIGITAL PARK Da Nang: From Vietnam's holiday haven to investment hotspot Da Nang, one of Vietnam's most popular tourist destinations, is now showcasing a new identity – that of an investment hub. The city is strategically located in central Vietnam, between the country's two major economic centres in the north and the south, Hanoi and Ho Chi Minh City, respectively. It is home to two deep-water ports, Tien Sa Port and the developing Lien Chieu Port, which are vital gateways in the eastern extremity of the East-West Economic Corridor, connecting Vietnam, Laos, Thailand and Myanmar across the Greater Mekong Sub-region. 'Naturally, the combination of the holiday lifestyle and the business lifestyle will be a magnet for a lot of people,' said Andy Khoo, managing director at Terne Holdings, a Singapore-based investment group. Starting January 2025, Da Nang became the first city in Vietnam officially approved to pilot a Free Trade Zone. Plans are afoot to develop it across 10 dispersed locations connected to Lien Chieu seaport and Da Nang International Airport. Another key driver is its designation as one of the two locations for Vietnam's international financial hub, along with Ho Chi Minh City, with 'unprecedented' financial mechanisms being developed and the authorities actively working to attract multibillion-dollar investments. Da Nang has allocated six land parcels for the development of the city's international financial hub, including the 9.7-hectare site overlooking the estuary of the Han River. Richard McClellan, founder and principal at Ho Chi Minh City-based RMAC Advisory, said: 'With a smaller scale than Ho Chi Minh City, Da Nang offers an ideal environment to experiment with new initiatives within a controlled and managed space.' Da Nang has allocated six land parcels for the development of the city's international financial hub, including the 9.7-hectare site overlooking the estuary of Da Nang's iconic Han River (above). PHOTO: JAMILLE TRAN, BT Ayutthaya: Thailand's 'Silicon Valley' Ayutthaya is an emerging city in Thailand's central-west economic corridor, where some 40 per cent of approved foreign investment projects in the first quarter of the year are located, said UOB's Cheong. The other up-and-coming city is Samutprakarn, which is in the Bangkok Metropolitan Region. These cities are part of the evolution of Thailand – traditionally known for its tourism industry – into an industrial powerhouse, particularly through its economic corridor initiatives. The strong infrastructure connectivity to ports and airports offers a geographical advantage for several of its rising hubs. 'These cities are within an hour's drive from Bangkok and are tipped to be the 'Silicon Valley' of Thailand,' he said. 'The availability of a higher-skilled labour force can be found in these cities, and strong policy support for these prioritised sectors is drawing more high-value investment.' Ayutthaya, 70 km north of Bangkok, was once the historic capital of a kingdom and is now a tourism hotspot. The city is also a key stop on the Thai-Sino high-speed rail system currently under construction. When completed, the high-speed rail will connect Bangkok to Nakhon Ratchasima, and ultimately to China via Laos, further strengthening its position as a potential logistics hub. Ayutthaya Historical Park in Ayutthaya. Ayutthaya is where one of the six stations on the Bangkok-Nong Khai high-speed rail project is to be located. The project is part of the broader Pan-Asian Railway Network. PHOTO: PIXABAY Additional reporting by Tan Ai Leng in Kuala Lumpur, Elisa Valenta in Jakarta, and Goh Ruoxue in Singapore
The Star
3 days ago
- Business
- The Star
Malaysia, Singapore agree to strengthen investment and trade cooperation
KUALA LUMPUR: Malaysia and Singapore have further agreed to enhance cooperation in investment and trade, focusing on key bilateral projects, says Datuk Seri Anwar Ibrahim. The Prime Minister said the agreement was reached during his meeting with his Singaporean counterpart, Lawrence Wong, on the sidelines of the 46th Asean Summit at the Kuala Lumpur Convention Centre, on Monday (May 26). "Prime Minister Lawrence and I expressed our commitment to enhance cooperation in investment and trade further, apart from focusing on key projects such as the JS-SEZ and the RTS Link," he said in a statement. Foreign Minister Datuk Seri Mohamad Hasan, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz and Singapore Foreign Minister Dr Vivian Balakrishnan were also present at the meeting. According to Anwar, he and Wong also agreed to expand cooperation in the areas of the digital economy, sustainable energy and the Asean Power Grid. "Malaysia and Singapore also agreed to resolve bilateral issues constructively for the mutual benefit of both nations and to maintain long-term harmonious relations," Anwar added. Wong arrived yesterday to attend the 46th Asean Summit today and the 2nd Asean-Gulf Cooperation Council (GCC) Summit and the inaugural Asean-GCC-China Summit at the same venue on Tuesday (May 27). The 46th Asean Summit was held under the Asean 2025 Chairmanship theme "Inclusivity and Sustainability", and it marks the fifth time Malaysia is chairing Asean, following its previous chairmanships in 1977, 1997, 2005 and 2015. – Bernama
