Kuala lumpur: Singapore-based companies have poured investments exceeding S$5.5 billion (S$1 = RM3.25) into Johor since the Johor-Singapore Special Economic Zone (JS-SEZ) memorandum of understanding (MoU) was signed last year, stated Singapore’s Deputy Prime Minister, Gan Kim Yong.
According to BERNAMA News Agency, Gan, who also serves as the Minister for Trade and Industry, emphasized the collaborative efforts of Singapore and Malaysia in maximizing the potential of the JS-SEZ. “We anticipate more investments in the upcoming months,” he remarked during his keynote speech at the 2nd JS-SEZ Joint Investment Forum at the Sands Expo and Convention Centre.
Gan delineated three strategic priorities to bolster the JS-SEZ: establishing flagship projects, simplifying business operations, and promoting inclusive growth, particularly for small- and medium-sized enterprises (SMEs) and their workforce. He stressed the need to make the JS-SEZ more business-friendly and future-ready by optimizing regulatory processes, enhancing the ease of cross-border trade and professional exchanges, and fostering skills and talent development to elevate human capital quality.
Highlighting the JS-SEZ’s progress, Gan noted Johor’s designation of nine flagship zones and the introduction of an appealing tax incentive package, alongside the creation of the Invest Malaysia Facilitation Centre – Johor (IMFC-J) to support investors. Singapore has also set up a Joint JS-SEZ Project Office, involving the Ministry of Trade and Industry (MTI), the Singapore Economic Development Board (EDB), and EnterpriseSG, to streamline regulatory processes and assist companies in establishing operations on both sides.
Gan underscored the JS-SEZ as a testament to the power of cooperation amidst global trade challenges and rising protectionism. He depicted the zone as a platform for building a connected business community that fosters collective growth and competitive advantage in a shifting global landscape. “Together, we are developing a cross-border ecosystem that nurtures enterprise growth, innovation, and the creation of quality jobs on both sides of the Causeway,” he added.
The partnership’s tangible impact is evident with companies like Singapore-based agritech firm Archisen, which inked an MoU with Southern Catalyst to develop a modern agricultural hub spanning 80.94 hectares in Sedenak, Johor. “The initiative will leverage indoor farming technologies to enhance food production, thus contributing to regional food security and agritech advancements,” Gan explained.
Additionally, international companies like ResMed, a medical technology firm operating on both sides of the Causeway, exemplify the opportunities facilitated by the JS-SEZ, allowing businesses to function as a unified ecosystem to expand operations and strengthen supply chains.
The forum, co-organized by Singapore and Malaysia, saw participation from Malaysia’s Investment, Trade and Industry Minister, Tengku Datuk Seri Zafrul Abdul Aziz, and Johor Menteri Besar Datuk Onn Hafiz Ghazi.