SINGAPORE TO STRENGTHEN JS-SEZ FOR ENHANCED ECONOMIC COLLABORATION -- DPM GAN KIM YONG

JOHOR BAHRU, April 21 (Bernama) -- Singapore will continue to strengthen the fundamentals of the Johor-Singapore Special Economic Zone (JS-SEZ) to enhance its value proposition, according to its Deputy Prime Minister and Trade and Industry Minister Gan Kim Yong.

He noted that the republic aims to improve the flow of goods and people between Singapore and Johor by simplifying clearance and customs procedures. 

Additionally, efforts will be made to fortify the business ecosystem through streamlined approval processes, investment in talent development, and the establishment of a single touchpoint for businesses, he said.

“In particular, on Singapore’s end, the Ministry for Trade and Industry, together with EnterpriseSG and Economic Development Board, have established a joint project office to support Singapore-based companies keen to expand and do more in the JS-SEZ and this will complement the Invest Malaysia Facilitation Centre-Johor established by Malaysia,” he said in his keynote address at JS-SEZ Business and Investment Forum, here today.

Also present were Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz and Johor Menteri Besar Datuk Onn Hafiz Ghazi.

Furthermore, Gan said Singapore would strengthen its network of economic partnerships with like-minded nations and economic blocs, such as within ASEAN and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, as well as the Gulf Cooperation Council and the European Union, to open up new markets and supply chain flows for businesses.

He also said the JS-SEZ presents an opportunity for businesses to explore ways to “strengthen their supply chain”, so they can better respond to volatility and continue to grow their businesses.

“The JS-SEZ builds on the strong, longstanding economic partnership between Malaysia and Singapore to open a new frontier of opportunities for businesses,” he said.

Gan said that some businesses in Singapore may choose to expand their capacity in the JS-SEZ and develop new capabilities, while others may also decide to twin their presence in both Singapore and Johor, so that they can tap into our complementary strengths.

He highlighted that, for example, South Korea’s SPC Group has chosen to site its halal manufacturing plant in Johor, while establishing a regional headquarters and innovation centre in Singapore that drives the research and development of new products.

“We also hope that we can attract and anchor new businesses which are not yet in Singapore or Malaysia to site their new investments in the JS-SEZ,” he said.

Gan also hoped that Malaysia and Singapore would team up with like-minded countries, double down on better connectivity and ease of doing business, and join hands with businesses and investors at a time of significant volatility, uncertainty and anxiety in the global economy.

“This way, both countries can further bridge our economies through the JS-SEZ and strengthen our supply chain, so that we can be more dynamic and resilient together and continue to create good jobs for people on both sides of the Straits,” he added.

-- BERNAMA