SINGAPORE-BASED FIRMS COMMIT OVER S$5.5 BILLION TO JOHOR SINCE JS-SEZ MOU -- SINGAPORE DPM

By Nur Ashikin Abdul Aziz

SINGAPORE, Oct 14 (Bernama) -- Singapore-based companies have committed over S$5.5 billion (S$1 = RM3.25) in investments into Johor since the signing of the Johor-Singapore Special Economic Zone (JS-SEZ) memorandum of understanding (MoU) last year, said the republic’s Deputy Prime Minister, Gan Kim Yong.

Gan, who is also the Minister for Trade and Industry, said Singapore and Malaysia will continue to work closely together to realise the full potential of the JS-SEZ.

“We look forward to more investments in the months ahead,” he said in his keynote address at the 2nd JS-SEZ Joint Investment Forum, at the Sands Expo and Convention Centre, here today.

Gan outlined three priorities to further strengthen the JS-SEZ: anchoring flagship projects, making it easier to do business, and ensuring inclusive growth, particularly for small- and medium-sized enterprises (SMEs) and their workers.

He noted that efforts must continue to make the JS-SEZ more business-friendly and future-ready by streamlining regulatory processes, enabling businesses to move faster, improving the ease of cross-border flows of goods and professionals, and strengthening skills and talent development to enhance the quality of human capital.

Gan said the JS-SEZ has made good headway with Johor, which has designated nine flagship zones across the southern state and introduced an attractive tax incentive package, as well as establishing the Invest Malaysia Facilitation Centre – Johor (IMFC-J)to assist investors.

Additionally, Singapore has established a Joint JS-SEZ Project Office, comprising the Ministry of Trade and Industry (MTI), the Singapore Economic Development Board (EDB) and EnterpriseSG, to smooth regulatory processes and help companies establish themselves on both sides.

Meanwhile, Gan said at a time when global trade is slowing and protectionist pressures are rising, the JS-SEZ stands as a strong illustration of what countries can achieve when they choose cooperation over contestation and partnership over protectionism.

He said to both Singapore and Malaysia, the JS-SEZ represents the creation of a connected business community that can grow together and compete more effectively in a changing global economy.

“Together, we are building a cross-border ecosystem that supports enterprise growth, innovation and the creation of good jobs on both sides (of the Causeway),” he added.

Gan said the partnership is already taking shape on the ground, with firms such as Singapore-based agritech company Archisen, which signed an MoU with Southern Catalyst earlier this morning to develop an 80.94-hectare modern agricultural hub in Sedenak, Johor.

“The project will apply indoor farming technologies to boost food production, and in doing so, contribute to the region’s food security and agritech development,” he said.

Other companies, like ResMed — a medical technology firm based in the United States and Australia — also operate on both sides of the Causeway.

He noted that these companies are examples of what the JS-SEZ makes possible for businesses, enabling them to operate across both sides of the Causeway as one integrated ecosystem to grow their operations and strengthen their supply chains.

The one-day forum, jointly organised by Singapore and Malaysia, was also attended by Malaysia’s Investment, Trade and Industry Minister, Tengku Datuk Seri Zafrul Abdul Aziz, and Johor Menteri Besar Datuk Onn Hafiz Ghazi.

-- BERNAMA