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

KUALA LUMPUR, October 1 — Malaysia and Singapore are exploring opportunities to attract third-country investors to the Johor-Singapore Special Economic Zone (JS-SEZ). This cooperation, as highlighted by Singapore Deputy Prime Minister Gan Kim Yong, extends beyond the neighboring countries to include efforts to attract investments from other nations and facilitate exports to various markets.

Gan emphasized the significance of this bilateral cooperation between Malaysia, Singapore, and Johor. He expressed optimism about further enhancing their partnership in the coming years.

Gan, who is also Malaysia's Minister for Trade and Industry, mentioned that Singapore, set to assume the Asean Chairmanship next year, intends to implement a series of projects following the execution of the Asean Digital Economy Framework Agreement (DEFA). This agreement is expected to foster greater digital cooperation among Asean member states. Gan noted that the DEFA was recently ratified during the Asean meeting in Manila, with the goal of signing and implementing the agreement by the following year.

Johari Abdul Ghani, the Investment, Trade, and Industry Minister, revealed that Singaporean firms have committed over S$5.5 billion (RM17.6 billion) to the JS-SEZ. These investments have resulted in the creation of numerous high-value jobs. The minister further explained that the JS-SEZ has evolved from a strategic concept to an active private economy hub, with investments spanning advanced manufacturing, data centers, energy technology, and solar energy.