Johor-Singapore economic zone seen attracting regional firms: OCBC

In 2024, OCBC supported about 260 new mid-sized enterprises to set up shop in Malaysia.

OCBC has welcomed the signing of the Johor-Singapore Special Economic Zone (JS-SEZ) agreement by Malaysia and Singapore, which it expects to attract more interest from regional firms.

Even prior to the agreement, OCBC observed growing interest from regional businesses looking to establish a presence in Johor.

In 2024, it supported about 260 new mid-sized enterprises, mainly from the services, construction and manufacturing, and wholesale and retail trade sectors, in setting up operations in Malaysia. The bank expects this number to grow by 20% in 2025.

To meet this rising demand, OCBC has established teams on both sides of the Causeway, comprising 25 bankers. These teams will provide advisory services and connect businesses with suitable local partners.

Tan Teck Long, OCBC’s Head of Global Wholesale Banking, highlighted Johor’s strategic geographical location, its strong connectivity with Singapore and other regions in Malaysia, and its relatively low cost of living as key factors contributing to the zone’s attractiveness.

He also pointed to Johor’s track record of prudent economic policies and its slightly higher-than-national-average economic and employment growth in recent years as additional advantages.

Tan noted that the scheduled launch of the Johor Bahru-Singapore Rapid Transit System Link on 1 January 2027 will further enhance the zone’s appeal.

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