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World Market Watch

The price tag: RM382 billion

It wasn’t even highlighted on the mainstream media, however Reuters is kind enough to help Malaysia to shed some lights on the South Johor Economic Region (SJER), where the people harbor high expectation on South Johor to be turned into a world-class metropolis.

JOHOR BARU, Malaysia, Nov 4 (Reuters) – Malaysia unveiled a $105 billion blueprint on Saturday to turn the area around its second-largest city into a prosperous Asian metropolis, determined to overcome its reputation for street crime and broken dreams.

Prime Minister Abdullah Ahmad Badawi, keen to boost a slowing economy and his own political support, said the government would set up a central planning body to oversee 20 years worth of projects to transform Johor Baru and its surrounds.

"We mean business," he told a crowd on city’s foreshore, overlooking the island state of Singapore, whose rapid economic success over 30 years has mocked Johor Baru’s failed ambitions.

"Our vision is to make south Johor the new international address for business, investment, leisure and culture."

Read the amount right, $105 billion (RM382 billion) spreads over 20 years or rather, RM19.14 billion a year!

Even from where I sit right now, I think I can hear blogger Aisehman yelling afar. Probably I should have prayed hard that Prime Minister Abdullah Ahmad Badawi will stay at the helm long enough to oversee his pet project, justifying the growth and achievement of SJER after 20 years of its conception, starting from this year 2006.

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4 comments to The price tag: RM382 billion

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