KUALA LUMPUR: A joint Malaysian-Singaporean Special Economic Zone in Johor will attract international investments, with both nations aiming to create 20,000 skilled employees within the first five years. The goals are to facilitate the expansion of 50 projects within the first five years and reach 100 projects within the first ten years.
At the 11th Malaysia-Singapore Leaders’ Retreat in Putrajaya on Tuesday, January 7, Singapore Prime Minister Lawrence Wong and Malaysia Prime Minister Anwar Ibrahim witnessed the signing of an agreement on the Johor-Singapore Special Economic Zone (JS-SEZ). Malaysia’s Economy Minister Rafizi Ramli disclosed the SEZ’s goals for the quantity of projects and employment generation during a briefing last Friday.
Additionally, he clarified that the JS-SEZ agreement specifies financial responsibilities for both nations, with Singapore contributing funds to assist investments and Malaysia contributing funds for infrastructure. According to Mr. Rafizi, the JS-SEZ would also function on a “project-by-project” basis, which means that rather than the traditional setup of constructing infrastructure before luring investors, infrastructure will be developed when projects and investments are agreed.
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