February 25, 2024

We are creating some awesome events for you. Kindly bear with us.

Johor-Singapore SEZ: Singapore-Malaysia Collaboration

In a major move aimed at strengthening their economic collaboration, Singapore and Malaysia have solidified their ties by signing a Memorandum of Understanding (MoU) to develop the Johor-Singapore Special Economic Zone (JS-SEZ). This initiative, announced in Johor Bahru, signifies a strategic effort to boost cross-border flows, streamline business processes, and foster mutual economic growth.

The signing ceremony, attended by Malaysia’s Minister of Economy, Mohd Rafizi Ramli, and Singapore’s Minister for Trade and Industry, Gan Kim Yong, demonstrates the commitment of both nations to enhancing economic connectivity between Johor and Singapore. The presence and endorsement of Malaysia’s Prime Minister, YAB Dato’ Seri Anwar Ibrahim, and Singapore’s Prime Minister, Lee Hsien Loong, further underscore the enduring partnership and joint determination to bolster economic cooperation.

The MoU, a product of the 10th Singapore-Malaysia Leaders’ Retreat in October 2023, sets the stage for a comprehensive Agreement on the JS-SEZ, with updates anticipated at the 11th Malaysia-Singapore Leaders’ Retreat. A key focus of this collaboration is the facilitation of cross-border flows of goods and people to create a conducive business ecosystem within the JS-SEZ, thereby attracting investments.

Leveraging the substantial growth in Johor and Singapore’s significant investments in the region, the JS-SEZ aligns with Johor’s impressive RM70.6 billion (S$22.592 billion) worth of investments in 2022. These investments span diverse sectors, including electrical and electronics, medical equipment, food manufacturing, and data centres.

Highlighting the importance of data centres in the digital economy, these facilities play a foundational role in providing the necessary infrastructure and services for businesses to thrive in an interconnected and data-driven world. Singapore, as Johor’s second-largest foreign investor in the first half of 2022, has played a significant role in the region’s foreign direct investment in the manufacturing sector.

Beyond the MoU signing, collaborative efforts between Malaysia and Singapore manifest in a comprehensive strategy encompassing various initiatives to fortify the JS-SEZ. At the forefront is the establishment of a dedicated one-stop business and investment service centre in Johor. This centre is designed to streamline and expedite approval and licensing processes for Singaporean businesses looking to establish a presence within the JS-SEZ, fostering an efficient and business-friendly environment.

Complementary initiatives include the adoption of a groundbreaking passport-free QR code clearance system at land checkpoints, ensuring swift and hassle-free people clearance. Simultaneously, the digitisation of cargo clearance processes at land checkpoints reflects a commitment to modernising and simplifying cross-border logistics.

In a synchronised effort, collaborative endeavours involve co-organising an investor forum to gather valuable feedback, facilitating renewable energy cooperation, developing targeted training initiatives to address talent gaps, and organising joint promotion events. These multifaceted efforts exemplify the shared commitment of Malaysia and Singapore to not only create a conducive business environment within the JS-SEZ but also foster innovation, collaboration, and sustainable economic growth.

These proactive measures underscore the commitment of both nations to fostering economic growth through collaborative efforts. With Malaysia and Singapore ranking as each other’s second-largest trading partners, bilateral trade reached S$153 billion in 2022, marking an 18.9% year-on-year growth. Singapore emerged as Malaysia’s primary source of foreign direct investment, contributing a substantial 20.5% to Malaysia’s total FDI in 2022.

The JS-SEZ initiative is poised to further elevate this robust economic relationship, providing a strategic framework for sustained collaboration and shared prosperity between the two nations. As the details of the JS-SEZ Agreement unfold, it signifies a new chapter in the bilateral economic landscape, underscoring the shared vision of Malaysia and Singapore to drive economic development through strategic cooperation and digitisation. The collaborative efforts in the JS-SEZ pave the way for a more interconnected and innovative economic future for both nations.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

Send this to a friend