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Business Times
2 days ago
- Business
- Business Times
Malaysia hopes to draw back talent to power JS-SEZ
[SINGAPORE] Malaysia hopes to draw back some of the hundreds of thousands of Malaysians who cross the causeways daily, by tapping them to power the Johor-Singapore Special Economic Zone (JS-SEZ), said panellists on Wednesday (Jun 18). However, Idzham Mohd Hashim, president and chief executive officer of Iskandar Investment (IIB), stressed that this was not about competing with Singapore, but about creating a 'symbiotic relationship' that benefits both countries. He was speaking on a panel titled 'Johor Focus: Building the Future with JS-SEZ', alongside Mohd Noorazam Osman, CEO of the Iskandar Regional Development Authority (IRDA) and former mayor of Johor Bahru. The discussion was part of the Nikkei Forum held in Medini, Johor, and moderated by the Japanese news organisation's senior producer Kaori Takahashi. IIB is leading the infrastructure development in the JS-SEZ, while IRDA oversees planning and coordination. The agreement to establish the SEZ was signed by Singapore and Malaysia in January with the aim of having both countries work together to attract new investment projects from around the world. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The SEZ covers an area of more than 3,500 sq km, roughly four times the size of Singapore. Idzham said that while the zone's infrastructure – including roads, power supply, and fibre optic networks – is already in place, what is still missing is the 'software'. 'Most of the businesses who come here… they ask: 'Do you have (the) talents?'' said Idzham. 'We do have (the) talents, because 300,000 of them go to Singapore every day.' Both Idzham and Noorazam pointed to plus points in Johor that could woo back these residents, such as more industry-relevant training, increased job opportunities through business expansion, and the lower cost of living in the state. For instance, Noorazam said the Johor Talent Development Council is working with academic and vocational institutions, as well as industry players, to ensure that training matches demand. While he did not go into detail, he added there are also plans to offer tax incentives and to work towards a minimum starting salary of RM4,000 (S$1,210) for graduates in Johor. He added that investors should see the lower wage expectations – at around 50 to 75 per cent of Singapore's salary levels – as part of the SEZ's broader cost advantage. In a separate panel discussion at the forum titled 'Building Digital Nations: Innovation, Inclusion and Impact' – which mostly focused on retaining talent in Johor – Johor Corp's chief talent officer Najmie Noordin acknowledged that it will be an uphill task to bring Malaysians working across the border back home. He noted that it would be difficult to convince Johoreans earning the equivalent of RM15,000 in Singapore to return for just RM5,000. Moderator Brian Fernandez, CEO of BizTech Asia, pointed out that many of these Johoreans – 'the cream of the crop' – work in the Republic purely for the higher pay. However, he added, many would also be willing to stay if salaries were even half of those in the city-state, especially given the daily grind of commuting. In any case, Najmie noted that one plan is to develop more high-quality local talent and encourage them to stay, as well as attract workers from other parts of Malaysia, such as Melaka. Responding to the discussion, Fadzli Abdul Wahit, head of digital transformation at Malaysia Digital Economy Corporation, said that efforts to retain talent must also focus on understanding industry demand. Rather than compete directly with advanced economies, Malaysia should identify niche opportunities, such as supplying digital assets to mature gaming and animation markets such as Japan and South Korea, where such content is in short supply, he added. Even so, panellists discussing the JS-SEZ maintained that Johor's cost and location advantages make it a compelling base for companies looking to scale up. Idzham noted that the cost of doing business in Johor is nearly 60 per cent lower than in Singapore, and about 30 per cent lower than in Kuala Lumpur – a key advantage for companies looking to expand across the border to grow their businesses. As for what Singapore brings to the table, Noorazam highlighted its global networks and financial strength. He added that Johor's vast land availability, affordability and talent pool make it a natural partner. In response to Takahashi on how the JS-SEZ would shape Johor's future as an innovation hub, Idzham said that the master plan for Medini is focused on business tourism, research and development (R&D), and environmental, social and governance-led urban development. The plan includes a new convention city near Legoland, a tech zone for R&D, and a net-zero carbon business district, with support from universities, the government and industry players. 'We should look at both Johor and Singapore as one growth area,' noted Noorazam. 'The JS-SEZ… can become the gateway to Asean, a market of 700 million people.'
Free Malaysia Today
2 days ago
- Business
- Free Malaysia Today
JS-SEZ safe bet for investors amid global tensions, says Iskandar Investment CEO
IIB president and CEO Idzham Hashim said Johor's strategic location and political stability have helped it remain among Malaysia's top three destinations for foreign direct investment in recent years. ISKANDAR PUTERI : The Johor-Singapore Special Economic Zone (JS-SEZ) offers investors a secure proposition amid growing global uncertainty, Iskandar Investment Bhd (IIB) president and CEO Idzham Hashim said today. He said Johor's strategic location and political stability had helped it remain among Malaysia's top three destinations for foreign direct investment in recent years. 'Despite the fact that many politicians all over the world are trying to make the world smaller, the majority believe globalisation is key to uplifting the quality of life. 'Because of our location and the strong relationship between Malaysia and Singapore – and Malaysia's good relationship with all nations – we are in a good position to capitalise on this,' he said at the Nikkei Forum Medini Johor 2025 co-organised by IIB here today. Idzham said in today's uncertain political climate, the formalisation of JS-SEZ had been crucial to ensuring its long-term competitiveness. The zone was formally established in January through an agreement between Malaysia and Singapore to boost economic connectivity between the state and the republic. It aims to attract 100 projects worth RM100 billion and create about 100,000 jobs in high-value sectors such as manufacturing, digital economy, logistics, clean energy, and tourism over the next decade. Spanning nine flagship zones, including Iskandar Malaysia and Pengerang, JS-SEZ offers competitive tax incentives and streamlined regulations to attract global investors. The initiative has begun to draw strong interest from investors in Japan, South Korea, China and Europe, positioning Johor as a strategic gateway to the Asean market. Idzham said the region's relatively low operating cost made it especially appealing. 'The cost of doing business in Johor is almost 60% cheaper than in Singapore and almost 30% cheaper than in Kuala Lumpur. 'We have the ability to help (Singaporean businesses) scale up, reduce their cost of doing business, and give them the space they need to grow,' he said. At a time when cross-border dynamics are easily politicised, Idzham reframed Johor-Singapore ties as collaborative rather than competitive. He said the two neighbours, separated only by the Johor Strait, each brought unique strengths to the table and complemented one another economically.
The Sun
3 days ago
- Business
- The Sun
JS-SEZ draws global investor interest
JOHOR BAHRU: The Johor-Singapore Special Economic Zone (JS-SEZ) is drawing increasing interest from international investors, particularly from Japan, South Korea, China, and Europe, as Johor positions itself as a strategic gateway to the Asean market. Iskandar Regional Development Authority (IRDA) chief executive Datuk Mohd Noorazam Osman said recent investment enquiries received by the Invest Malaysia Facilitation Centre Johor reflect strong interest from these key markets, underscoring Johor's emergence as a promising regional growth hub. 'This is a very positive outlook not only for Johor, but also for Malaysia as a whole. Amid ongoing global volatility, investors are looking to Asean as a promising entry point into new regional markets,' he said when met after speaking as a panellist at the Nikkei Forum Medini 2025: Driving Asia's Innovation Hub held here yesterday. On key investment sectors, Mohd Noorazam said Japanese investors are particularly drawn to electrical and electronics, financial services, technology, and the digital economy. Asked about confirmed Japanese investments, he noted that while specific names could not yet be disclosed, several companies had requested meetings with Johor Menteri Besar Datuk Onn Hafiz Ghazi, a clear indication of their strong interest. 'We have also received enquiries from Japanese banks acting on behalf of their clients. We are facilitating engagements, particularly with institutions such as Mizuho Bank and Sumitomo Mitsui Banking Corporation, with whom the Economy Ministry recently signed a letter of intent,' he added. Meanwhile, Iskandar Investment Bhd (IIB) president and CEO Datuk Idzham Mohd Hashim said Medini is fully equipped to welcome new investors, supported by comprehensive infrastructure and a business-friendly ecosystem. He said the 'plug and play' development model implemented in Medini enables investors to begin operations immediately, without delays. 'The land is ready, and essential utilities, including electricity, water, fibre optics, and cabling, are already in place. Instead of starting from scratch, investors can establish operations in Medini, which already hosts nearly 40 international companies. 'These businesses are thriving, and it's now a matter of scaling up. At IIB, we see ourselves as growth partners, committed to helping businesses succeed in Medini,' he said. Idzham also emphasised Medini's high quality of life, supported by amenities such as pocket parks, Sireh Park, golf courses, Legoland, and the revitalised Johor Zoo, all catering to diverse lifestyles and income groups. Commenting on global uncertainties and Singapore's recent downward revision of its gross domestic product growth forecast to 0.2%, he acknowledged that some investors are adopting a wait-and-see approach due to geopolitical tensions. 'There may be short-term corrections, such as what Singapore is experiencing, but we believe these are temporary. Asean remains one of the world's fastest-growing regions, with a youthful and expanding middle class. Young people account for about 50 to 60% of Southeast Asia's 650 million population,' he said. He also highlighted the natural geographic advantages of Johor and Singapore as investment destinations, further bolstered by political stability and the absence of natural disasters. On IIB's development strategy, he stressed that focus is not solely on physical infrastructure but also soft infrastructure. 'Soft infrastructure includes talent development, facilitation by government agencies, and enabling businesses to access markets. 'That's the ecosystem we're building, not just buildings and roads, but the support systems businesses need to thrive.' The two-day Nikkei Forum Medini 2025 forms part of broader efforts to position Johor as a regional innovation hub, supporting the JS-SEZ initiative to attract high-quality investments and integrate value chains between Malaysia and Singapore. – Bernama
Business Times
3 days ago
- Business
- Business Times
Malaysia hopes to draw back talent to power Johor-Singapore economic zone
[SINGAPORE] Malaysia hopes to draw back some of the hundreds of thousands of Malaysians who cross the causeways daily, by tapping them to power the Johor-Singapore Special Economic Zone (JS-SEZ), said panellists on Wednesday (Jun 18). However, Idzham Mohd Hashim, president and chief executive officer of Iskandar Investment Bhd (IIB), stressed that this was not about competing with Singapore, but about creating a 'symbiotic relationship' that benefits both countries. He was speaking on a panel titled Johor Focus: Building the Future with JS-SEZ, alongside Mohd Noorazam Osman, CEO of the Iskandar Regional Development Authority (IRDA) and former mayor of Johor Bahru. The discussion was part of the Nikkei Forum held in Medini, Johor, and moderated by the Japanese news organisation's senior producer Kaori Takahashi. IIB is leading the infrastructure development in the SEZ, while IRDA oversees planning and coordination. The agreement to establish the SEZ was signed by Singapore and Malaysia in January with the aim of having both countries work together to attract new investment projects from around the world. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The SEZ covers an area of more than 3,500 square kilometres, roughly four times the size of Singapore. Idzham said that while the zone's infrastructure – including roads, power supply, and fibre optic networks – is already in place, what is still missing is the 'software'. 'Most of the businesses who come here… they ask, 'Do you have (the) talents?',' said Idzham. 'We do have (the) talents, because 300,000 of them go to Singapore every day.' Both Idzham and Noorazam pointed to plus points in Johor that could woo back these residents, such as more industry-relevant training, increased job opportunities through business expansion, and the lower cost of living in the state. For instance, Noorazam said the Johor Talent Development Council is working with academic and vocational institutions, as well as industry players, to ensure that training matches demand. While he did not go into detail, he added there are also plans to offer tax incentives and to work towards a minimum starting salary of RM4,000 (S$1,210) for graduates in Johor. He added that investors should see the lower wage expectations – at around 50 to 75 per cent of Singapore's salary levels – as part of the SEZ's broader cost advantage. In a separate panel discussion at the forum titled Building Digital Nations: Innovation, Inclusion and Impact – which mostly focused on retaining talent in Johor – Johor Corp's chief talent officer Najmie Noordin acknowledged that it will be an uphill task to bring Malaysians working across the border back home. Najmie noted that it would be difficult to convince Johoreans earning the equivalent of RM15,000 in Singapore to return for just RM5,000. Moderator Brian Fernandez, CEO of BizTech Asia, pointed out that many of these Johoreans – 'the cream of the crop' – work in the Republic purely for the higher pay. However, he added, many would also be willing to stay if salaries were even half of those in the city-state, especially given the daily grind of commuting. In any case, Najmie noted that one plan is to develop more high-quality local talent and encourage them to stay, as well as attract workers from other parts of Malaysia, such as Malacca. Responding to the discussion, Fadzli Abdul Wahit, head of digital transformation at Malaysia Digital Economy Corporation, said that efforts to retain talent must also focus on understanding industry demand. Rather than compete directly with advanced economies, Malaysia should identify niche opportunities, such as supplying digital assets to mature gaming and animation markets like Japan and South Korea, where such content is in short supply, he added. Partners in growth Even so, panellists discussing the JS-SEZ maintained that Johor's cost and location advantages make it a compelling base for companies looking to scale up. Idzham noted that the cost of doing business in Johor is nearly 60 per cent lower than in Singapore, and about 30 per cent lower than in Kuala Lumpur – a key advantage for companies looking to expand across the border to grow their businesses. As for what Singapore brings to the table, Noorazam highlighted its global networks and financial strength. He added that Johor's vast land availability, affordability and talent pool make it a natural partner. In response to Takahashi on how the JS-SEZ would shape Johor's future as an innovation hub, Idzham said that the master plan for Medini is focused on business tourism, research and development (R&D), and environmental, social and governance-led urban development. The plan includes a new convention city near Legoland, a tech zone for R&D, and a net-zero carbon business district, with support from universities, government and industry players. 'We should look at both Johor and Singapore as one growth area,' noted Noorazam. 'The JS-SEZ…can become the gateway to Asean, a market of 700 million people.'
New Straits Times
3 days ago
- Business
- New Straits Times
Japan, Korea, Europe circle Johor in bid for Asean foothold
ISKANDAR PUTERI: The Johor-Singapore Special Economic Zone (JS-SEZ) drew growing attention from global investors, particularly from Japan, South Korea, China, and Europe, positioning Johor as a strategic entry point into the Asean market. Iskandar Regional Development Authority (IRDA) chief executive Datuk Mohd Noorazam Osman said the state Invest Malaysia Facilitation Centre has seen a marked uptick in enquiries, reflecting international confidence in Johor's regional promise. "This outlook bodes well not just for Johor but for Malaysia. Amid global volatility, investors are looking to Asean for fresh market access," he said after participating as a panellist at the Nikkei Forum Medini 2025: Driving Asia's Innovation Hub, held at Sunway BigBox here today. He said Japanese investors are showing keen interest in sectors such as electrical and electronics, technology, digital economy, and financial services. While the potential investors remain confidential, he confirmed several Japanese firms had sought direct engagement with Johor Menteri Besar Datuk Onn Hafiz Ghazi. "Japanese banks like Mizuho and Sumitomo Mitsui are actively facilitating discussions. The recent letter of intent signed by the economy ministry with these banks highlights the momentum," he added. Iskandar Investment Bhd (IIB) president and chief executive officer Datuk Idzham Mohd Hashim said Medini is fully equipped to absorb new investments through a 'plug and play' model, with utilities and infrastructure already in place. "Investors don't have to build from scratch. We already host nearly 40 international firms. The environment is right for scaling," he said. Idzham cited Medini's lifestyle appeal, with green spaces, leisure attractions like Legoland, and high liveability standards. He acknowledged global uncertainties, including Singapore's trimmed GDP growth forecast, but said Asean's long-term fundamentals remain strong. "Young people make up nearly 60 per cent of Southeast Asia's 650 million population. "That's a long-term growth engine," he said. IIB's strategy is focused on physical development and also soft infrastructure, which includes talent, facilitation, and market access, to support sustainable investor success. The two-day Nikkei Forum forms part of ongoing efforts to anchor Johor as a regional innovation hub, supporting the JS-SEZ's vision of deeper cross-border integration with Singapore.
