The Johor-Singapore Special Economic Zone (JS-SEZ) is set to create more jobs and business opportunities while driving the growth of small- and medium-sized enterprises (SMEs), analysts and business groups say.
They say the JS-SEZ's success largely depends on whether projects will be implemented in a timely manner to attract investments and boost investor confidence, as well as cross-border economic connectivity between the two countries.
The integrated zone for business and investment aims to support the expansion of 50 projects in the first five years, and 100 projects in 10 years.
Singapore Prime Minister Lawrence Wong and Malaysian Prime Minister Anwar Ibrahim on Jan 7 witnessed the exchange of the much-awaited agreement on the new special economic zone at the 11th Malaysia-Singapore Leaders' Retreat in Putrajaya, Malaysia.
"It's not just about Singapore businesses going to Johor, but it's about both sides working together to attract new investment projects globally," Datuk Seri Anwar said at the joint press conference in Putrajaya with PM Wong on Jan 7, at the end of the two-day retreat.
The new zone, which aims to ease the movement of people and goods across the Singapore-Johor border, will occupy 3,571 sq km of land across southern Johor's east to west coast.
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