Malaysia has announced strategic partnerships with leading financial institutions to support its special economic zone in Johor, bordering Singapore. Economy Minister Rafizi Ramli revealed the initiative during the Johor-Singapore Special Economic Zone dialogue.
The project has secured letters of intent from major banks, including Bank of America, HSBC, Sumitomo Mitsui Banking Corp, CGS International Securities, Maybank, and CIMB Bank. Negotiations are ongoing with a European bank. These partnerships aim to stimulate private sector participation through capital pooling.
Established in January 2025, the Malaysia-Singapore initiative targets 50 projects and 20,000 skilled jobs within five years. A comprehensive blueprint is scheduled for release by year-end. Both countries will establish infrastructure funds to support businesses in the zone. Johor’s Chief Minister, Onn Hafiz Ghazi, reported impressive investment figures, with RM27.4 billion ($6.4 billion) secured in Q1 2025 and RM23 billion more anticipated. The state expects to exceed RM50- 60 billion in total investments this year, surpassing 2024’s RM48.5 billion.
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