OCBC expects the signing of the Johor-Singapore Special Economic Zone (JS-SEZ) agreement to attract increased interest from regional firms, having already observed a growing trend of companies keen to establish a presence in Johor even before the deal was finalised, Singapore Business Review reported.
In 2024, OCBC supported around 260 new mid-sized enterprises, primarily from the services, construction and manufacturing, and wholesale and retail trade sectors, as they set up operations in Malaysia.
With the JS-SEZ agreement signed, the bank expects a 20% increase in these numbers for this year.
OCBC has set up teams of 25 bankers on both sides of the Causeway to handle the growing demand, offer advice, and help businesses connect with suitable local partners.
Tan Teck Long, Head of Global Wholesale Banking at OCBC, pointed out that Johor’s strategic location, strong connectivity to Singapore and other parts of Malaysia, and lower cost of living make the zone particularly attractive.
He added that Johor’s prudent economic policies and above-national-average economic and employment growth are additional advantages.
Mr Tan also highlighted that the January 2027 launch of the Johor Bahru-Singapore Rapid Transit System Link will further boost the zone’s appeal. /TISG
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