Malaysia’s Johor state is proposing its economic and petrochemical hubs as the sites for a special zone with neighbour Singapore, as it aims to become the “Shenzhen of Southeast Asia”, according to a report in local media.
The suggested area will comprise Iskandar Malaysia and Pengerang on the east coast of the state, Johor’s chief minister Onn Hafiz Ghazi was cited as saying at the state assembly on Sunday.
If it goes ahead, the Johor-Singapore Special Economic Zone would be nearly twice the size of China’s Shenzhen at 3,505 sq km.
Both countries agreed in January to set up the zone, and Malaysia plans to finalize and sign a pact by the end of the year, according to Onn Hafiz. Official engagements with Singapore on the economic zone are expected to begin in June, he added.
“I am confident that with the help of the [special economic zone], Johor can become the Shenzhen of Southeast Asia,” Onn Hafiz said, according to The Star.
Johor is proposing 16 economic sectors as part of the zone, spanning electrical and electronics, manufacturing, healthcare, and tourism, he said.
Onn Hafiz also mentioned the state government’s trip to Shenzhen in March, where the Johor delegation met with 40 potential Chinese investors and Meng Fanli, the Communist Party chief of Shenzhen.