September 27, 2024
KUALA LUMPUR – Malaysia and Singapore are committed to ensure the success of the Johor-Singapore Special Economic Zone (JS-SEZ) as both countries are tied with an agreement.
Invest Johor chief executive officer Natazha Harris said both countries have to prove to the world that the success of JS-SEZ could only be achieved by working together.
“The agreement to realise the establishment of the special economic zone comes under both countries and we have to deliver as agreed,’’ Natazha said during a panel discussion on “JS-SEZ: Potential Impact and Regional Development and What Businesses Need”.
The discussion was at the sideline of “Invest Malaysia: Where Policy Meets Progress” held here.
The other two panellists were the Malaysian Industrial Development Authority board member Prof Dr Ong Kian Ming and Iskandar Regional Development Authority head of economics and investment Rudyanto Azhar.
The session was moderated by Socio-Economic Research Centre and the Associated Chinese Chambers of Commerce and Industry of Malaysia executive director Lee Heng Guie.
Natazha also urged Johor-based small and medium enterprises to look at ways to collaborate with multinational corporations that are likely to set up their operations in the JS-SEZ.
“It is up to them to grab the opportunities by participating in the supply global chain.”
Ong said that it would take at least a decade for the JS-SEZ to become a game changer as both Malaysia and Singapore want it to succeed.
He said with the tensions between China and the United States to continue, it will provide an opportunity for the special economic zone to attract strong interests from Chinese, Japanese and European investors.
“Malaysia and Singapore are not competing but complementing each other and the JS-SEZ will further strengthen the bilateral relationship of the two countries,’’ said Ong.
He said the completion of Johor Baru-Singapore Rapid Transit Link (RTS Link) project in January 2027, will help to improve connectivity and accessibility at the Johor Causeway.
Ong said he would rather see the second RTS Link project taking place at the Second Link Crossing in Tanjung Kupang, Gelang Patah, instead of a third bridge as proposed by certain parties.
“With the RTS Link connecting Tanjung Kupang and Tuas in Singapore, it will give a boost to the JS-SEZ,’’ he said.
Rudyanto said Johor has the right ecosystem to make the JS-SEZ a success like what Iskandar Malaysia has achieved.
Established on Nov 8, 2006, he said Iskandar Malaysia has exceeded its investments target of RM383bil by 2025, with RM400bil in committed investments recorded in 2023.
“Almost 70% of the investments have been realised and Iskandar continues to attract strong interest from foreign and domestic investors,’’ said Rudyanto.