JS-SEZ A Unique Initiative To Promote Malaysia And Singapore -- PM Anwar

PUTRAJAYA, Jan 7 (Bernama) -- The Johor-Singapore Special Economic Zone (JS-SEZ) is a unique initiative where two countries work together as a team to help promote both nations and attract investments, said Prime Minister Datuk Seri Anwar Ibrahim.

Anwar, who is also the Finance Minister, highlighted that both Malaysia and Singapore are governed by politically stable administrations with clear economic policies aimed at attracting investments.

Both governments are also selective in ensuring that investments align with future demands and priorities, he said during a joint press conference with Singapore's Prime Minister Lawrence Wong today in conjunction with Wong's two-day official visit to Malaysia which started yesterday. 

That, by itself, is a great incentive for businesses other than financial incentives and infrastructure provided via the collaboration, Anwar said.

Meanwhile, Wong said the initiative provides a message for investors to look at the complementarities between Johor and Singapore and the many advantages in the entire JS-SEZ ecosystem.

He said there are many strengths that can be harnessed from both sides that will enhance its value proposition and make JS-SEZ much more competitive and attractive for businesses to operate from.

“On the Singapore side, we have engaged with many of our businesses, and they are very keen to do more out of Johor. We already have existing incentives for businesses that want to expand overseas.

“We already have existing incentives for businesses from Singapore that want to expand overseas, so Singaporean businesses can tap into those incentives, market readiness programmes and grants in order to expand and operate in Johor that are synergised with their operations in Singapore,” he said.

Wong also highlighted that the greater potential of JS-SEZ is about both nations working together to attract new investments globally as well as  to market and promote the economic zone as a combined destination in Johor and Singapore for investors.

“Hopefully, this will allow both of us (Malaysia and Singapore) to attract even more global investments to our respective countries -- enhance the pie, expand the pie and create more jobs for both our peoples,” he added.

Earlier, Anwar and Wong witnessed the exchange of the joint agreement between Malaysia and Singapore on JS-SEZ along with six other memoranda of understanding (MOUs) and one letter of intent (LOI). 

The MoUs involve the field of carbon capture and storage; cooperation in cooperative approaches under Article 6 (paragraph 2) of the Paris Agreement; and cooperation in the field of urban development.

They also include an MoU on cooperation in the fields of social welfare, women, and persons with disabilities' empowerment, family, children and community development; an MoU on preventing and combatting transnational crimes; and an MoU on cooperation in the field of higher education.

Meanwhile, the LOI between the Singapore International Foundation (SIF) and Yayasan Guru Tun Hussein Onn (YGTHO) is on the Malaysia–Singapore English Volunteers Programme (MSEVP).

-- BERNAMA