Johor-Singapore Special Economic Zone (JS-SEZ) agreement to be finalised between the Malaysian and Singapore governments in September
The article discusses the forthcoming finalization of the Johor-Singapore Special Economic Zone (JS-SEZ) agreement, expected to be completed in September. Malaysian Economy Minister Rafizi Ramli expressed confidence that details of the agreement might be included in the Budget 2025 speech, pending approval from both Malaysian and Singaporean authorities.
The JS-SEZ aims to attract venture capital (VC) and private equity (PE) investments, focusing on high-technology and high-value industries. Rafizi emphasized the need for streamlined processes to facilitate easy movement of people, goods, and services. Recent discussions with investors, including those from China and Western countries, underscore the SEZ's potential appeal due to Asean's growing market significance.
The agreement's specifics, including incentives and tax breaks, are being finalized and will likely feature in the 2025 budget. The JS-SEZ, situated in Malaysia's Iskandar region and potentially spanning over 3,000 sq km, aims to strengthen economic ties between Johor and Singapore, targeting electronics, financial services, business services, and healthcare sectors.
The initiative follows a January 2024 MoU between Malaysia and Singapore, which established a joint committee to address various economic and operational aspects. The Invest Malaysia Facilitation Centre Johor, managed by the Iskandar Regional Development Authority, has started its interim operations to support the SEZ's development.
It seen much Johor-Singapore will work closely in coming time, and it is a win-win situation between Johor-Singapore.Not only in economics growth, it also have others benefit for each others. Happy to see it will happen in coming time.
Credit: JS-SEZ to be finalised in September by KEITH HIEW. The Star
Photo Credit : Bernama
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