Malaysia To Invest In Developing Its Border Areas To Promote Economic Activities - PM Anwar

By Siti Baaqiah Mamat

KUALA LUMPUR, April 8 (Bernama) -- In an effort to strengthen ASEAN cooperation, Malaysia is committed to developing its border areas such as in the northern peninsula with Thailand, and the Sabah and Sarawak border with Kalimantan, which will promote economic activities and benefit people on both sides of the border.

Such investments and cooperation can help the 10-member bloc where its population is nearing 700 million, Prime Minister Datuk Seri Anwar Ibrahim said today.

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He cited the Johor–Singapore Special Economic Zone (SEZ) as one such development.

"While this will not be a silver bullet, it is nevertheless a significant step," he said at the ASEAN Investment Conference 2025 here entitled: "ASEAN 2025: Forging a resilient and inclusive future."

The conference is held on the sideline of 12th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM) and related meetings at the Kuala Lumpur Convention Centre today.

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A SEZ is a specific area in a country allocated by a government to receive special business and tax incentives. The purpose of a SEZ is to stimulate economic growth and typically includes various tax incentives, customs benefits and investment opportunities for potential investors.

 Anwar, who is also the Finance Minister, said ASEAN’s resilience also requires investment in infrastructure that can weather storms, both literal and financial.

“Our Southeast Asian neighbours are especially prone to natural disasters. Furthermore, the effects of climate change have become more insidious. Our capacity to manage adverse weather events, safeguard critical infrastructure and protect vulnerable communities must be significantly improved,” he said.

He said green growth is no longer a matter of environmental virtue, but a strategic economic necessity as technologies such as carbon capture, circular production models and low-emission innovation are not peripheral experiments.

Indeed, he said, they are poised to define the industrial landscape of the coming decade.

The Prime Minister also launched the ASEAN Simplified ESG Disclosure Guide for the small and medium-sized enterprises (SMEs) today.

He said SMEs form the bulk of employment base, yet are often the most exposed to shocks and the least equipped to respond.

“Compliance with global sustainability standards is daunting for a company of, say, five people. That is why Malaysia, with the support of our partners, is launching the simplyfied guide,”he said.

He believes it is a practical tool to help small businesses take their first steps towards more sustainable and transparent operations.

“A concrete and grounded initiative like this will decide whether the vision for ASEAN becomes a reality or fades into a footnote of history,” Anwar stressed. 

-- BERNAMA