Malaysia and Singapore to widen JS-SEZ to third-country investors as DPM Gan Kim Yong says cooperation will extend beyond bilateral ties

MALAYSIA/SINGAPORE: Malaysia and Singapore are exploring ways to attract investors from third countries into the Johor-Singapore Special Economic Zone (JS-SEZ), expanding the zone’s ambition beyond a bilateral investment initiative into making it a regional hub for international capital and export facilitation.

According to Invest Johor, citing The Edge Malaysia, Singapore Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong confirmed the direction in his keynote speech at a business luncheon with the Malaysia-Singapore Business Council during his one-day working visit to Malaysia on Thursday.

“This is a very important bilateral cooperation between our two countries, as well as between Johor and Singapore. Indeed, we are looking for additional ways to enhance Johor-Singapore cooperation,” Gan said. “Hopefully, more details will be announced in time to come on how we can further support one another in the years ahead.”

S$5.5 billion in Singaporean commitments and counting

Investment, Trade and Industry Minister Datuk Seri Johari Abdul Ghani confirmed that Singaporean firms have pledged more than S$5.5 billion to the JS-SEZ, generating thousands of high-value jobs across advanced manufacturing, data centres, energy technology, and solar energy. Johari added that the JS-SEZ “has progressed from a strategic concept into an active private economy hub.”

Gan also used the luncheon to flag Singapore’s priorities as it prepares to assume the ASEAN chairmanship next year. He said Singapore hopes to execute a series of projects following the implementation of the ASEAN Digital Economy Framework Agreement, which he said would pave the way for greater digital cooperation among ASEAN member states.

“At the last ASEAN meeting in Manila, we also concluded with the cross-examination of the digital economy agreement. This is something that I know all businesses are asking about, and we are eager to have this finally signed this year and come into effect by next year,” Gan said.