Malaysia, Singapore ink historic Special Economic Zone MoU


JOHOR BARU: Malaysia and Singapore have officially set up a Special Economic Zone (SEZ) with the signing of a memorandum of understanding (MoU) here.

The signing, which was witnessed by Prime Minister Datuk Seri Anwar Ibrahim and his Singapore counterpart Lee Hsien Loong here on Thursday (Jan 11), marks a significant milestone between the neighbouring countries.

ALSO READ: Johor hopes to ink Special Economic Zone deal with Singapore in six months

It was signed by Economy Minister Rafizi Ramli and Singapore’s Trade and Industry Minister Gan Kim Yong.

Also present were Johor Mentri Besar Datuk Onn Hafiz Ghazi and Singapore's National Development Minister Desmond Lee.

ALSO READ: Scope of Special Economic Zone with Singapore to be finalised in October, says Onn Hafiz

The MoU signing comes just two months after the 10th Singapore-Malaysia Leaders' Retreat in October.

During the retreat on Oct 30, Anwar and Lee Hsien Loong agreed to jointly develop the SEZ.

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