SBEZ to contribute RM40b to GDP once developed: Second Finance Minister

January 4, 2018 @ 9:20PM
By Suzalina Halid

ALOR STAR: The Special Border Economic Zone (SBEZ) project in Bukit Kayu Hitam is expected to contribute up to RM40 billion a year to the national Gross Domestic Product (GDP).

Second Finance Minister Datuk Seri Johari Abdul Ghani said SBEZ, announced by Prime Minister Datuk Seri Najib Razak during the tabling of the 2018 Budget last year, will enter it physical work phase soon.

“The project is currently at the planning stage before we can proceed to obtain state approval for the land to be gazetted.

“We believe that we need to develop the border area especially with the economic development in southern Thai,” he told reporters after attending a briefing on SBEZ with state leaders here today.

Also present was Kedah Menteri Besar Datuk Seri Ahmad Bashah Md Hanipah.

Johari said SBEZ would be developed on a 4,451 ha of land that includes a land port, a free trade zone and a commercial area.

He said the first phase of the project would involve the development of a free trade zone on a 930 ha land.

SBEZ, which aims to boost the northern region economic development, is expected to cost about RM50 billion.

Translated from Berita Harian

Second Finance Minister Datuk Seri Johari Abdul Ghani (third from right) with Kedah Menteri Besar Datuk Seri Ahmad Bashah Md Hanipah (2nd from right) attend the Special Border Economic Zone (SBEZ) briefing at Wisma Darul Aman. Pic by SHARUL HAFIZ ZAM