Singapore–Malaysia Cooperation Update: Johor–Singapore Special Economic Zone Agreement Officially Signed-FOZL

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Singapore–Malaysia Cooperation Update: Johor–Singapore Special Economic Zone Agreement Officially Signed

Published Time：

2024-09-06 14:49

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7 January 2025, Singapore’s Ministry of Trade and Industry announced the signing of an agreement between Singapore and Malaysia to establish the Johor–Singapore Special Economic Zone (JS-SEZ).

The SEZ will cover areas in Singapore and Malaysia’s Johor state, including the Iskandar Malaysia economic region and Pengerang. By leveraging the complementary strengths of Singapore and Johor, the initiative aims to boost competitiveness and joint value creation, attract greater investment, and generate new jobs and opportunities in both countries.

The agreement focuses on four key pillars:

1.Enhancing economic cooperation,

2.Facilitating cross-border movement of people and goods,

3.Improving the ease of doing business, and

4.Supporting talent development within the SEZ.

This framework seeks to attract businesses from Singapore and beyond to invest in 11 priority sectors within the SEZ. These include manufacturing, logistics, food security, energy, the green economy, and the digital economy. The target is to support and facilitate the growth of 100 cumulative projects over 10 years, potentially creating 20,000 new jobs.

In addition, the two countries exchanged six Memorandums of Understanding (MoUs) and one Letter of Intent (LOI), covering areas such as carbon capture and storage (CCS), carbon credit collaboration, and higher education partnerships.

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