Malaysia, Singapore Explore Third-country Investment In JS-SEZ

KUALA LUMPUR, Oct 1 (Bernama) -- Malaysia and Singapore are exploring ways to attract third-country investors to the Johor-Singapore Special Economic Zone (JS-SEZ), further strengthening the zone as a regional investment and export hub.

Singapore Deputy Prime Minister Gan Kim Yong said the cooperation would extend beyond Johor and Singapore to include efforts to attract investors from other countries and facilitate exports to other markets.

“This is a very important bilateral cooperation between our two countries, as well as between Johor and Singapore. Indeed, we are looking for additional ways to enhance Johor-Singapore cooperation.

“Hopefully, more details will be announced in time to come on how we can further support one another in the years ahead,” he said in his keynote speech during a business luncheon with the Malaysia-Singapore Business Council on his one-day working visit here.

Gan, who is also the Minister for Trade and Industry, said Singapore, which will assume the ASEAN Chairmanship next year, hopes to execute a series of projects following the implementation of the ASEAN Digital Economy Framework Agreement (DEFA).

He said the agreement would pave the way for greater digital cooperation among ASEAN member states.

“At the last ASEAN meeting in Manila, we also concluded with the cross-examination of the digital economy agreement.

“This is something that I know all businesses are asking about, and we are eager to have this finally signed this year and come into effect by next year,” he said.

Meanwhile, Investment, Trade and Industry Minister Datuk Seri Johari Abdul Ghani noted that Singaporean firms have pledged more than S$5.5 billion (S$1=RM3.19) to JS-SEZ, generating thousands of high-value jobs.

He said the investments include advanced manufacturing, data centres, energy technology and solar energy, adding that the JS-SEZ has progressed from a strategic concept into an active private economy hub.

-- BERNAMA