Maybank: SEZ visa could bring in foreign skilled workers and drive JS-SEZ success

SINGAPORE: Maybank said introducing an SEZ visa could help solve the Johor-Singapore Special Economic Zone (JS-SEZ) labour shortages by attracting foreign workers. In its report, “Johor-Singapore SEZ: Tracking the Progress,” the bank noted that businesses face challenges in finding skilled workers.

According to the Singapore Business Review, a 2024 survey by the Singapore Business Federation found that nearly 60% of Singaporean businesses in Johor are struggling to find technical and skilled workers due to problems with employment passes and a lack of local talent.

The bank said that many people in Johor prefer working in Singapore, where wages are higher, which adds to the shortage. In addition, Malaysia’s freeze on foreign worker employment has made it harder for businesses to hire expatriates.

Maybank suggested that an SEZ visa could help bring in foreign workers, particularly managers and experts with skills not easily found locally. The visa should offer “favourable” terms to encourage foreign workers to come to Johor, with a “streamlined and fast-tracked” application process to help businesses adapt quickly.

Maybank also suggested fast-tracking immigration passes for key personnel, like senior managers and technicians, to travel easily between the SEZ and company headquarters in Singapore.

To solve the manpower issue, the JS-SEZ will train local workers, offer competitive salaries, and improve Malaysian passes, such as the DE Rantau Nomad Pass, for remote high-tech workers.

In November 2024, the Johor Talent Development Council was created as a hub for education and training. It will also help ensure that Johor businesses can provide enough jobs with competitive salary and benefits packages.

Singapore Business Review reported that Singapore and Malaysia have already signed agreements to improve cooperation in technical and vocational education and training (TVET) to meet industry needs.

A unique Malaysia My Second Home (MM2H) residency visa was also introduced for the SEZ, offering lower deposit requirements and one-off fees. However, most holders are not allowed to work in Malaysia. /TISG

Read also: Singapore and Malaysia sign JS-SEZ deal, creates 20,000 skilled jobs in the next 10 years

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