tahoo
November 5th, 2006, 03:09 PM
Any good investment in JB? Is it good time to invest in JB?
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Malaysia has launched an ambitious project aimed at transforming the idyllic southern Johor state into a metropolis similar to Hong Kong or Shenzhen.
The 17.7 billion ringgit (4.8 billion dollars) project, called the South Johor Economic Zone.
t is designed to woo foreign investment and compete with neighbouring Singapore for manufacturing and logistics businesses to spur growth and employment.
Prime Minister Abdullah Ahmad Badawi who unveiled the mammoth project described it as one of Malaysia's "most important and ambitious initiatives."
"The project aims to be a model of economic development in the extremely competitive era," he told some 2,000 people including business leaders and senior ministers.
"The South Johor Economic Zone is blessed with elements that make for a dynamic international metropolis," he added.
The project will cover an area of 2,217 square kilometers (853 square miles) -- making it one of the single largest integrated developments in the country.
Abdullah said the government will inject 4.3 billion ringgit while Khazanah Nasional, the state investment agency, will pump in 3.4 billion. The private sector will provide an additional 10 billion in the early phase of the plan.
--
Malaysia has launched an ambitious project aimed at transforming the idyllic southern Johor state into a metropolis similar to Hong Kong or Shenzhen.
The 17.7 billion ringgit (4.8 billion dollars) project, called the South Johor Economic Zone.
t is designed to woo foreign investment and compete with neighbouring Singapore for manufacturing and logistics businesses to spur growth and employment.
Prime Minister Abdullah Ahmad Badawi who unveiled the mammoth project described it as one of Malaysia's "most important and ambitious initiatives."
"The project aims to be a model of economic development in the extremely competitive era," he told some 2,000 people including business leaders and senior ministers.
"The South Johor Economic Zone is blessed with elements that make for a dynamic international metropolis," he added.
The project will cover an area of 2,217 square kilometers (853 square miles) -- making it one of the single largest integrated developments in the country.
Abdullah said the government will inject 4.3 billion ringgit while Khazanah Nasional, the state investment agency, will pump in 3.4 billion. The private sector will provide an additional 10 billion in the early phase of the plan.