SINGAPORE: More good news is expected to be announced next week regarding the Johor-Singapore Special Economic Zone (JS-SEZ) as part of ongoing efforts to sustain investor momentum.
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz alluded to further incentives during a fireside chat at the Asia Future Summit.
He confirmed the announcement will be made at a conference jointly organised by MITI, Singapore’s MTI, and the Johor state government.
“There will be some good news that we will be sharing,” he told the audience.
Tengku Zafrul highlighted significant synergy between Singapore and Malaysia, particularly Johor, as the JS-SEZ aims to attract global investors and multinational companies.
He emphasised that both nations must remain economically strong and politically stable to create a conducive growth environment.
“It is better to be friends than enemies, better to be collaborators together,” he said when discussing the ideal bilateral relationship.
The minister stressed that both neighbours must continue leveraging each other’s strengths and complementing one another in sectors like manufacturing.
Tengku Zafrul also addressed the importance of maintaining ASEAN’s centrality and neutrality in an increasingly fragmented world.
“This is where, for Malaysia and for ASEAN, we need to ensure that we manage these two giants,” he said, referring to China and the United States.
He confirmed regional leaders are expected to sign the upgraded ASEAN Trade in Goods Agreement at the upcoming ASEAN Summit in Kuala Lumpur.
The minister expressed optimism about reaching a substantial conclusion on the Digital Economy Framework Agreement to enhance regional trade.
Tengku Zafrul said MITI aims to reduce bureaucratic hurdles that have hindered Malaysia from becoming ASEAN’s top investment destination.
Initiatives like the Invest Malaysia Facilitation Centre – Johor can help shorten approval timelines for investors.
He noted technologies like artificial intelligence can be applied to streamline investment processes.
“Thankfully, with the advancement of technology, we are now able to do things better and safer,” he added. – Bernama