JOHOR BAHRU: The Johor-Singapore Special Economic Zone (JS-SEZ) has become a magnet for investment, as shown by its first-quarter performance, where close to 90 per cent of the RM27.4 billion new investments in Johor are located in the economic zone.
Minister of Investment, Trade and Industry (MITI) Tengku Datuk Seri Zafrul Abdul Aziz said JS-SEZ, therefore, has to focus on attracting the right kind of investment that could diversify the supply chain and, in turn, help build the nation’s supply chain resiliency and security.
“Johor, Malaysia and Singapore have complementary strengths, and this is what JS-SEZ is all about.
“If you look at the geographical area, it is a very compelling argument that no other area can represent these unique qualities and resources and combined with the logistics and access to a global financial centre as well,” he said in a press conference at the JS-SEZ Joint Business and Investment Forum here today.
The minister said that with the current tariff issues affecting the global economy, JS-SEZ is a compelling joint proposition by Malaysia and Singapore to elevate and strengthen the ASEAN supply chain.
“Amidst all this discussion, we should refocus on issues or areas where we can cooperate to mitigate those impacts, and we would like to invite investors from the rest of the ASEAN and ASEAN partner countries to also join us at JS-SEZ,” said Tengku Zafrul.
The JS-SEZ Agreement was officially signed by the leaders of Malaysia and Singapore on January 6 this year. Among others, it is aimed to jointly attract new global investments to the JS-SEZ area and the expansion of Singapore companies into the economic zone.
Under the JS-SEZ Agreement, Malaysia and Singapore committed to promoting investment in 11 key sectors, aiming to attract third-country investors and support Singaporean firms expanding into the zone.
This initiative seeks to enhance economic complexity, foster digital vibrancy, encourage technology adoption, and achieve net-zero aspirations within the JS-SEZ.
Nine flagship zones have been strategically designated under JS-SEZ, namely Johor Bahru City Centre, Iskandar Puteri, Tanjung Pelepas-Tanjung Bin, Pasir Gudang, Senai-Skudai, Sedenak, Forest City, Desaru, and Pengerang Integrated Petroleum Complex (PIPC).
The two-day forum, themed “JS-SEZ: Bridging Economies, Strengthening Supply Chains”, is organised by MITI, in collaboration with Singapore’s Ministry of Trade and Industry and the Johor state government.
