KUALA LUMPUR: Johor will rival Klang Valley in the next 10 years with the development of the Johor-Singapore Special Economic Zone (JS-SEZ).
"Early estimates put JS-SEZ contribution to about US$28 billion in addition to our gross domestic product (GDP) every year. It can easily rival Klang Valley in the next ten years," said Economy Minister Rafizi Ramli during a fireside chat at the Forum Ekonomi Malaysia.
He added that the country needs to create a new engine of growth and Johor has the potential to take the spot.
"We need to create a new engine of growth. Johor should be able to be that in the next decade," he added.
In 2023, Johor GDP stood at RM148 billion, while Kuala Lumpur's was at RM249 billion.
The Klang Valley region covers KL, Putrajaya and six districts in Selangor.
On Tuesday, Malaysia and Singapore kicked off the JS-SEZ which covers a 357,128 hectares area.
Malaysia and Singapore aim to attract 100 projects over 10 years to the JS-SEZ, creating 20,000 skilled jobs.
They will promote investments in 11 sectors in nine flagship zones.