Economy
Johor-Singapore Special Economic Zone deal set for year-end signing
Malaysia’s Economy Ministry expects the Johor-Singapore Special Economic Zone agreement to be sealed by year-end. Economy Minister Rafizi Ramli and Singapore’s Trade Minister Gan Kim Yong signed an MoU in Johor Bahru on 11 January.
KUALA LUMPUR, MALAYSIA: The Ministry of Economy of Malaysia announced that the joint agreement for the Johor-Singapore Special Economic Zone (JS–SEZ) is anticipated to be finalized by year-end.
According to a report from Malaysia’s state media Bernama, the agreement is scheduled to be signed during the 11th Malaysia-Singapore Leaders’ Retreat by the respective Prime Ministers.
In response to a Parliamentary Question from Jimmy Puah, Pakatan Harapan (PH) MP for Tebrau regarding the development and timeline of the special economic zone, the ministry in a written reply on Thursday (14 March) conveyed that the agreement would outline cooperation details, such as targeted sectors, location, and incentives.
The Johor government conducted a study on JS-SEZ, presenting an interim report to the Ministry of Economy on 29 January.
Following this, Prime Minister Anwar Ibrahim chaired a coordination meeting on 28 February to gather input from relevant ministries and agencies before engaging in discussions with Singapore.
The Memorandum of Understanding (MoU) was signed by Economy Minister Rafizi Ramli and Singapore’s Trade and Industry Minister, Gan Kim Yong, in Johor Bahru on 11 January.
The MoU outlined several initiatives, including establishing a one-stop business/investment service centre in Johor, implementing a passport-free QR code clearance system, and digitizing cargo clearance processes at land checkpoints.
Both parties also agreed to collaborate on renewable energy, host an investor forum, and develop work-based learning programs for industries facing talent shortages within the economic zone.
The concept of JS–SEZ was initially proposed by Rafizi after discussions with the Johor government in Iskandar Puteri in May last year, leading to the establishment of a special task force two months later.
The JS–SEZ aims to enhance the business ecosystems in Iskandar Malaysia and Singapore, particularly in electronics, financial services, business-related services, and healthcare sectors.
Johor attracted RM70.6 billion (approximately US$15.6 billion) in foreign investments across various sectors in 2023.
According to Singapore’s Ministry of Trade and Industry (MTI), Malaysia and Singapore are each other’s second-largest trading partners, with bilateral trade growing 18.9% year-on-year to S$153 billion (approximately US$114.4 billion) in 2022.
Singapore was also Malaysia’s top source of foreign direct investment (FDI), contributing 20.5% to Malaysia’s total FDI in 2022.
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Publish your draft agreement and have it debated in pariahment so that Sinkies know exactly whether they are shortchanged.
The clause should also permit those not working or engaged in the economic zone to also travel freely across borders.
They definitely will as many in PKR are not Minister material and UMNO is in the Unity govt.
The Ringgit will fall further. The prices of property bought by TH in Iskandar are all down. TH bought those properties at RM1200/- psf when the market was at RM750psf. So the entry point was already higher than needed to be. Please use the Ringgit if we have to buy or invest. Don’t convert Sing$ as there will be a 100% loss. The present govt. may not be elected so politically it is not wise to invest. It is also going more fundamentally Islamic after AI has become PM. There is more talk about the length of shorts,dresses and clothes… Read more »
What the bloody F all these useless idiot politicians think they are doing? It’s blatant ignorance, waste of money, WORST MOVING BACK time instead of progress.
Didn’t they have had the Riau Triangle – SG/Johore/Batam where all these BIG HEADED policians SANG the same tune, of seamless production at one side, expertise, design at the other, and cheap labour all round.
All these Blue Bird Fkers can go jump down FROM ANY HEIGHTS they can find to give up themselves INSTEAD of ruining other Millions of people’s lives, AND their HARD EARNED MONEY.