JOHOR BAHRU: The Johor government will establish a State Economic Reform Committee (SERC) to facilitate economic reforms and recovery post-Covid-19.
In a statement today, Menteri Besar Datuk Hasni Mohammad said the advisory committee – comprising influential individuals as well as industry leaders – will meet next week to evaluate current economic challenges and identify the way forward for the state’s economy.
The SERC will make its recommendations through an economic reform plan which will include short, medium and long-term policies, procedures and strategic directions towards reforming Johor’s economy post-Covid-19, said Hasni, who also chairs the committee.
Additionally, the committee will advise the state government on new economic areas, regional cooperation and high-impact initiatives to create a sustainable Johor economic ecosystem and recommend improvements to the Johor Sustainable Development Plan 2019-2030 in the post-Covid-19 context.
Hasni said the economic reform plan will be submitted to him for further action by state government agencies such as the State Economic Planning Unit and related agencies.
Aside from the SERC, the state government will also set up a digital bank to boost its digital economy.
Hasni said the digital bank will make the financial sector more inclusive and capable of providing better quality financial services and accountability for all market segments.
“Digital banking, particularly in financial technology, is growing rapidly. In 2014, 52% of the Southeast Asian population used online banking services and the number is increasing.
“As such, Johor should seize this opportunity as digital economy is part of the ‘new norm’ post-Covid-19, and I am confident that Johor has the capability and expertise to do it,” he said.
Meanwhile, Hasni said the state government plans to review the Singapore-Johor-Indonesia (SIJORI) Growth Triangle.
“It is time for regional economic growth areas such as SIJORI to be revitalised to explore economic potentials in Singapore, Johor and Indonesia.
“We realise that post-Covid-19 economic cooperation should be more open, inclusive and innovative, and we need to foster regional cooperation by sharing our knowledge through political stability and diplomatic relations,” he added. – April 15, 2020, Bernama
