Infrastructure projects like the HSR are not just about the immediate financial returns from fare collections, says Wan Agyl Wan Hassan, founder of the My Mobility Vision group.
“A broader economic viewpoint reveals the immense potential of the HSR to catalyse growth across sectors, attract investments, and integrate key economic zones,” he told FMT.
Wan Agyl cited the Johor Bahru Special Economic Zone and the Tun Razak Exchange project where connectivity was the “backbone of its success”.
“Similarly, the HSR isn’t merely a transport project – it’s a catalyst for economic transformation,” he said in response to remarks by economist Yeah Kim Leng, an adviser to the government.
Yeah said the HSR project was unlikely to be implemented in the near future due to the current economic growth trajectory and fiscal constraints.
Yeah, who sits on a policy advisory committee to the prime minister, said Putrajaya had indicated the HSR project would only proceed if it is privately funded.
However, Wan Agyl argued that high-speed rail projects have reshaped economies such as China and France by reducing travel time and leading to the growth of new economic corridors, enhanced tourism, and fostering regional integration.
The HSR had the same potential, he said. Its estimated cost of RM70 billion could yield RM250 billion in growth of the gross domestic product for Malaysia and create over 111,000 new jobs by 2060.
“Delaying the HSR puts Malaysia at risk of losing its competitive edge,” he said. “Indonesia and Thailand are moving forward aggressively with their high-speed rail plans and if we stand still, we risk being sidelined in the regional race for connectivity and economic leadership.” - FMT
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