Malaysia and Singapore Forge Economic Partnership in Johor

Malaysia and Singapore have announced a collaborative economic zone in Johor, aiming to enhance investment and ease movement. The plan targets 50 projects, creating 20,000 jobs in five years. Both countries are establishing funds to support this initiative, addressing current cross-border challenges.

In a significant move symbolizing economic cooperation, Malaysia and Singapore declared a collaborative agreement to establish a special economic zone in Johor. This initiative, highlighted during the visit of Singapore Prime Minister Lawrence Wong, seeks to bolster mutual investment and streamline the movement of goods and citizens across borders.

The ambitious project aims to attract investments in diverse sectors like manufacturing, logistics, tourism, and energy transition, as remarked by Malaysia's Economic Minister Rafizi Ramli. The joint venture plans to launch 50 projects within the first five years, creating 20,000 skilled jobs and transforming the region's economic landscape.

Supporting the venture, Malaysia will initiate an infrastructure fund for incoming businesses, while Singapore will develop a separate fund to aid its companies in Johor. This collaboration hopes to alleviate the congestion at one of the world's busiest border crossings, as daily commuters from Malaysia cross into Singapore for work and study.

(With inputs from agencies.)