The Johor-Singapore Special Economic Zone Agreement is in the final stages of negotiation and is expected to be signed in September 2024.

KUALA LUMPUR (July 10): Negotiations for the Johor-Singapore Special Economic Zone (JS-SEZ) are in the final stages, paving the way for a joint agreement to be signed in September this year, Economy Minister Rafizi Ramli said.

He is confident that once the agreement is signed, JS-SEZ will attract early stage investors keen to invest in the special economic zone.

To this end, Rafizi said the Johor state government and the federal government are working in parallel to ensure JS-SEZ is able to attract investors from around the world, especially private equity and venture capital.

The joint agreement will outline priority sector initiatives, infrastructure development plans and incentives to be offered to investors.

He therefore hopes that a fiscal package incentive for JS-SEZ will be included in the 2025 budget to be announced in October this year.

“The past few months have been very fruitful for both the federal and state governments,” he said at a press conference after the JS-SEZ Investment Forum here on Wednesday, which was also attended by Johor Governor Ong Hafiz Ghazi.

Rafizi said the government would speak directly with investors during the forum and take their feedback into consideration.

“As we further improve how JS-SEZ is run, we will allow plots to sell naturally, shifting away from the previous approach of focusing primarily on infrastructure development before selling plots,” he said.

Rafizi stressed Malaysia’s keenness to welcome investors who can build a tech-driven ecosystem and foster high value-added industries within the economy.

He is also optimistic that the JS-SEZ will serve as a stepping stone into the ASEAN market.

“The world is realising that ASEAN will be a very influential market in the next five to 10 years. For example, ASEAN may even overtake Europe,” he said.

Uploaded by Liza Shireen Koshy

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