Scope Of Johor-Singapore Special Economic Zone To Be Finalised

Scope Of Johor-Singapore Special Economic Zone To Be Finalised

After much discussion and deliberation from both sides, the Menteri Besar of Johor, Datuk Onn Hafiz Ghazi has confirmed that the Terms of Reference (TOR) of the Johor-Singapore Special Economic Zone (SEZ) will be finalised next month.

He said this in a reply to Andrew Chen Kah Eng, the assemblyman for Stulang at the one-day Johor assembly meeting on Thursday.

“Prime Minister Dato Seri Anwar Ibrahim and his Singapore counterpart Lee Hsien Loong will be attending the retreat in Singapore.

“Matters on the SEZ will be discussed further during the leaders’ retreat and will then be followed up with the TOR,” said Datuk Onn Hafiz.

In the assembly, Datuk Onn Hafiz also added that the matter was first discussed between the two countries at the 16th meeting of the Malaysia-Singapore Joint Ministerial Committee for Iskandar Malaysia (JMCIM).

“I am truly happy and excited about this development and announcement because it will continue to strengthen the good relationship between Johor and Singapore for mutual prosperity and progress.

“Johor and Singapore will cooperate more closely and complement each other for the good of the people in both countries,” he said.

Last month, the Prime Minister announced that the government is planning to create a special financial zone in Forest City in an effort to boost investment, growth and economic activities in the state of Johor.

According to a report from ChannelNewsAsia back in July, the SEZ will offer well-developed industrial spaces with special legal regimes, rules, institutional environments and incentives.

The idea of a special economic zone is not new, as it is a practice that is quite common, especially among ASEAN countries. However, a collaborative special economic zone will require further planning as it requires harmonisation from both countries’ respective governments.

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