Malaysia, Singapore explore third-country investment in JS-SEZ

KUALA LUMPUR: Malaysia and Singapore are exploring new avenues to entice third-country investors to the Johor-Singapore Special Economic Zone (JS-SEZ), bolstering the zone's status as a regional investment and export hub. Singapore Deputy Prime Minister Gan Kim Yong revealed that the collaboration would extend beyond the borders of Johor and Singapore, encompassing efforts to attract global investors and bolster exports to international markets.

This partnership is deemed vital between Malaysia, Singapore, and Johor, with the potential for further enhancements in the years to come.

During a business luncheon with the Malaysia-Singapore Business Council, Gan, also the Minister for Trade and Industry, expressed optimism about the prospects of the Asean Digital Economy Framework Agreement, which Singapore will chair next year. He highlighted that the agreement could foster greater digital collaboration among ASEAN member states. The agreement is anticipated to be finalized and implemented within the coming year, a topic of keen interest to businesses worldwide.

Investment, Trade and Industry Minister Datuk Seri Johari Abdul Ghani revealed that Singaporean firms have committed over S$5.5 billion (RM1=US$0.24) to the JS-SEZ, creating thousands of high-paying jobs. These investments span advanced manufacturing, data centers, energy technology, and solar energy. The JS-SEZ has evolved from a strategic concept into a thriving private economy hub.