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Singapore, Malaysia aim to sign MOU on Johor Special Economic Zone by early 2024
The two countries plan to ink a memorandum of understanding (MOU) for the next stage of the project on Jan 11.
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Malaysian Prime Minister Anwar Ibrahim and Singapore’s Prime Minister Lee Hsien Loong shake hands after a joint press conference at the Istana or Presidential Palace in Singapore, 30 October 2023. Malaysian Prime Minister Anwar Ibrahim is in the country to attend the 10th Singapore-Malaysia Leaders’ Retreat (SMLR). (Reuters/HOW HWEE YOUNG)
T
he leaders of Singapore and Malaysia had very productive and substantive discussions during a two-day retreat here, including on the Johor-Singapore Special Economic Zone, said Prime Minister Lee Hsien Loong on Monday.
The two countries plan to ink a memorandum of understanding (MOU) for the next stage of the project on Jan 11.
The zone aims to improve the flow of goods and people between both sides of the Causeway, and enhance the ecosystem of the Iskandar development region and Singapore.
Speaking at a joint press conference with Malaysian Prime Minister Anwar Ibrahim in Singapore, Lee said the 10th Singapore-Malaysia Leaders’ Retreat was an important milestone that reflects the continued importance both countries place on bilateral ties and on working together positively to bring tangible benefits to their peoples.
Anwar had arrived in Singapore on Sunday for the retreat, the first between him and Lee and also the first since the COVID-19 pandemic.
On the Johor-Singapore Special Economic Zone (JS-SEZ), which he called a “substantial and promising project”, PM Lee said there is currently a feasibility study to see what the two countries want the project to focus on, and to look into where there is interest from investors and market demand.
The zone may come with special tax arrangements and other initiatives to improve flow of goods across borders, he added.
