JOHOR BARU: Johor and Singapore’s plan for a Special Economic Zone, which is expected to be implemented next year, will include a one-stop centre to spur development within the growth corridor.
State Investment, Trade and Consumer Affairs committee chairman Lee Ting Han (pic) said the one-stop centre would make it easier for investors to bring their businesses here.
“This will be very helpful to investors and industry players as they will only need to face one special agency that will facilitate their investment here,” he said.
A memorandum of understanding for the Johor-Singapore Special Economic Zone (JS-SEZ) was signed here on Thursday by Economy Minister Rafizi Ramli and Singapore’s Trade and Industry Minister Gan Kim Yong.
The signing ceremony was witnessed by the prime ministers of Malaysia and Singapore.
Besides having a one-stop centre in Johor, other initiatives by Malaysia and Singapore for the JS-SEZ include the implementation of a passport-free QR code clearance system on both sides and adopting digitalised processes for cargo clearance at the land checkpoints.
The signing of the MOU for the JS-SEZ demonstrated the commitment by the two nations to implement the zone, Lee said when contacted.
“The MOU signing shows a strong political will from the leaders of both countries.
“It is a sign that the JS-SEZ will and must be done. In fact, the implementation of the zone will come as early as next year,” he said.
Lee also noted that an agreement between Malaysia and Singapore, which is expected to be finalised at the fourth quarter of this year, will include more specific details, including the size of the economic zone.
Thursday’s MOU came just two months after the 10th Singapore-Malaysia Leaders’ Retreat was held in Singapore in which the two prime ministers announced that they had agreed to jointly develop the JS-SEZ.
