logo
Johor-Singapore Special Economic Zone important and timely: Gan Kim Yong

Johor-Singapore Special Economic Zone important and timely: Gan Kim Yong

CNA21-04-2025

The Johor-Singapore Special Economic Zone (SEZ) is important and timely as global protectionism rises, said Trade and Industry Minister Gan Kim Yong said on Apr 21. He said it shows how like-minded nations can work together, so they both benefit. He added that it also means businesses have new firms to turn to strengthen their supply chains, amid sweeping US tariffs. He was speaking at the first joint business and investment forum in Johor, attended by more than 800 stakeholders. CNA spoke to Sumit Agarwal, Professor of Finance, Economics and Real Estate at the NUS Business School, who discussed how the SEZ will help firms face uncertainties caused by the US tariffs. The Johor-Singapore Special Economic Zone (SEZ) is important and timely as global protectionism rises, said Trade and Industry Minister Gan Kim Yong said on Apr 21. He said it shows how like-minded nations can work together, so they both benefit. He added that it also means businesses have new firms to turn to strengthen their supply chains, amid sweeping US tariffs. He was speaking at the first joint business and investment forum in Johor, attended by more than 800 stakeholders. CNA spoke to Sumit Agarwal, Professor of Finance, Economics and Real Estate at the NUS Business School, who discussed how the SEZ will help firms face uncertainties caused by the US tariffs.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Malaysia's PM Anwar vows to 'make necessary adjustments' from SEZ foreign investors' feedback 'if absolutely necessary'
Malaysia's PM Anwar vows to 'make necessary adjustments' from SEZ foreign investors' feedback 'if absolutely necessary'

Independent Singapore

timea day ago

  • Independent Singapore

Malaysia's PM Anwar vows to 'make necessary adjustments' from SEZ foreign investors' feedback 'if absolutely necessary'

ISKANDAR PUTERI, MALAYSIA: Prime Minister Anwar Ibrahim vowed that Malaysia will make necessary adjustments, 'if absolutely necessary,' based on feedback from foreign investors on the development of the Johor-Singapore Special Economic Zone (JS-SEZ) to make Malaysia 'a very attractive destination for foreign investments.' Speaking at the two-day Nikkei Forum Medini, Johor 2025, PM Anwar pitched the JS-SEZ project, 'based on total trust' between Malaysia and Singapore, touting foreign investors to invest in the opportunity, as reported by Nikkei Asia. 'This is not an ordinary SEZ,' he said. 'Name me any other economic zone that involves two countries based on total trust and working together as a team.' The JS-SEZ deal, signed on Jan 6 during the 11th Malaysia-Singapore Leaders' Retreat in Putrajaya , spans 3,571 sq km, nearly five times the size of Singapore. Johor's Chief Minister, Onn Hafiz Ghazi, who was also at the forum, shared that investment in his state has been 'surging.' He said Johor attracted RM30.1 billion (S$9.12 billion) in investment during the first three months of 2025, nearly seven times the RM4.1 billion recorded in the same period last year. 'This amount took nine months to achieve last year, and it has been achieved just in three months in 2025,' the chief minister said, adding that this reflects the trust of both local and foreign investors in Johor. He also mentioned that from January to May, Johor's Invest Malaysia Facilitation Centre had secured committed investments worth RM16.71 billion, with another RM26.18 billion in potential investments being considered by 47 foreign and 10 local investors. The centre is responsible for guiding businesses into the SEZ. In January, OCBC had already expected the JS-SEZ deal to attract increased interest from regional firms , given the interest they had observed even before the deal was finalised. Despite strong investor interest, infrastructure concerns already felt by Johoreans were raised during the forum. Japan's ambassador to Malaysia, Noriyuki Shikata, said it is 'essential' to address the pressing issue of traffic congestion in Johor, as it will not only hamper economic activity but will also waste energy, harm the environment, and increase accident risks. In response, PM Anwar said, 'We should be very dynamic and make adjustments wherever necessary.' /TISG Read also: Johor's April investment pipeline at RM23B as it targets high-tech and green investments to create better-paying job opportunities

CNA Correspondent - The Shangri-La Dialogue: Speed dating for defence officials
CNA Correspondent - The Shangri-La Dialogue: Speed dating for defence officials

CNA

time2 days ago

  • CNA

CNA Correspondent - The Shangri-La Dialogue: Speed dating for defence officials

Tensions, absences and quiet chats at Asia's premier security summit. The US sent Defense Secretary Pete Hegseth but China left its defence minister at home for this year's summit. CNA's Olivia Siong and Leong Wai Kit tell Arnold Gay whether Dong Jun's absence affected Beijing's messaging and why the summit is similar to speed dating, with defence officials meeting and mingling to seal alliances and agreements.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store