February 29, 2024

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Singapore-Malaysia Boost Digital and Green Ties

Longtime neighbours and trading partners, Singapore and Malaysia are reaffirming their commitment to bolstering economic cooperation and people-to-people ties, particularly in the areas of the digital and green economy. At the 10th Singapore-Malaysia Leaders’ Retreat, Prime Minister Lee Hsien Loong of Singapore and Prime Minister Dato’ Seri Anwar Ibrahim of Malaysia emphasised the importance of their joint efforts.

Image credit: pmo.gov.sg

The leaders emphasised the robust nature of Singapore and Malaysia’s bilateral relationship. Both countries are each other’s second-largest trading partners, underscoring the vital role they play in each other’s economies. Investments from Singapore to Malaysia have seen substantial growth, and Singapore has emerged as the top foreign investor in Malaysia in the first half of 2023.

The leaders acknowledged the need for enhanced cooperation in a post-pandemic world filled with uncertainties, particularly in the domains of digital and green economies. During Prime Minister Anwar’s introductory visit in January, two Framework Agreements were signed, one on the Digital Economy and another on the Green Economy. These agreements lay the foundation for comprehensive collaboration, fostering a win-win partnership that benefits both nations.

Within the ASEAN context, Singapore and Malaysia are working closely to bolster regional collaboration, emphasising ASEAN’s centrality, especially in the emerging fields of digital and green economies. The two countries are committed to advancing the shared interests and aspirations of the ASEAN community.

Among the significant collaborative initiatives discussed, the creation of a Johor-Singapore Special Economic Zone (JS-SEZ) took the spotlight. This substantial project aims to enhance cross-border trade, facilitate the flow of goods and people, and strengthen the overall business ecosystem. The JS-SEZ is poised to boost economic attractiveness for both Singapore and Johor, ushering in new opportunities for economic growth and development on both sides.

Both Singapore and Malaysia are steadfast in their commitment to transitioning towards a low-carbon and sustainable future. To this end, the leaders have agreed to reinforce cooperation on renewable energy.

A notable aspect of this collaboration is the pursuit of cross-border electricity trading, which promises mutual benefits for both nations. Renewable energy sources are anticipated to be harnessed from both Peninsula Malaysia and East Malaysia, facilitating a shift towards cleaner and more sustainable energy practices.

Enhancing connectivity between Singapore and Malaysia is a priority. The Rapid Transit System (RTS) Link between Johor Bahru (JB) and Singapore is a key project aimed at providing a more convenient travel option for citizens of both countries. The anticipated completion of this project by the end of 2026 is eagerly awaited, as it represents the third land link between Singapore and Malaysia, enhancing mobility and economic integration.

Efforts to alleviate congestion at land checkpoints have also been discussed. Initiatives have been introduced to streamline cross-border travel while maintaining border security. These steps, along with the redevelopment of the Woodlands Checkpoint, signify Singapore’s commitment to improving border infrastructure.

The leaders highlighted various areas of bilateral cooperation, reflecting the depth and breadth of the relationship between the two nations. The Triennial Malaysia-Singapore Cultural Showcase (TCS) held in Singapore was commended for its role in deepening cultural and heritage exchanges.

Additionally, economic agencies have signed an MoU to strengthen collaboration between small and medium-sized enterprises (SMEs) and to update the Malaysia-Singapore Business Development Fund. This fund will support joint test-bedding and pilot projects in third countries, focusing on areas such as the green and digital economies.

Prime Minister Anwar and Prime Minister Lee also addressed outstanding bilateral issues, including maritime delimitation, reclamation at Pedra Branca, water, and airspace. These matters, though significant, are approached with a holistic and constructive perspective, within the broader context of the overall relationship.

Both leaders emphasised that these issues should not detract from the many positive areas of cooperation between the two nations. They expressed confidence in finding mutually beneficial resolutions to these challenges.

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.

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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.

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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.

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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. 

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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.

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