22-12-2023 (SINGAPORE) Singapore and Malaysia are expected to sign the Johor-Singapore Special Economic Zone Memorandum of Understanding (MoU) in January next year.
Singapore’s Minister for National Development, Lawrence Wong, announced in a Facebook post on Thursday (December 21) that the Joint Ministerial Committee for Iskandar Malaysia (JMCIM) meeting was held online on Monday (December 18).
The Singaporean delegation included Desmond Lee and Minister for Trade and Industry Gan Kim Yong. The Malaysian delegation consisted of Minister of Economy Rafizi and Johor State Mayor Onn Hafiz Ghazi. Lee stated that both sides reviewed the progress of the Iskandar Malaysia Economic Zone Special Working Group and discussed the next steps.
Lee mentioned that the Johor-Singapore Economic Zone would enhance cross-border movement of goods and people, improve the business ecosystem, and boost economic attractiveness for both Singapore and Johor. He expressed his delight in seeing smooth progress in the various initiatives and looked forward to signing the MoU on the economic zone in January next year. He also expressed his anticipation for more opportunities to establish close cooperation with Malaysia.
Singapore and Malaysia are each other’s second-largest trading partners, and Singapore is the largest foreign investor in Malaysia in the first half of this year.
Following the 10th Singapore-Malaysia Leaders’ Retreat held in Singapore in October, attended by Prime Minister Lee Hsien Loong and Malaysian Prime Minister Anwar Ibrahim, both leaders revealed during a joint press conference that discussions were ongoing regarding the Johor-Singapore Economic Zone and facilitating smoother immigration arrangements for workers on both sides of the Causeway. They aimed to sign the MoU on the economic zone on January 11 next year.
