PUTRAJAYA: The much-awaited Johor-Singapore Special Economic Zone (JS-SEZ) is a rare joint initiative between two nations, says Datuk Seri Anwar Ibrahim.
The Prime Minister said it was "very rare" to find two countries working together as a team to promote investments for both in a single project.
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"I think that by itself is a great (achievement)... other than the financial incentives and infrastructures, where two countries work as a team, it is a rare feat," he told a joint press conference with his Singapore counterpart Lawrence Wong here on Tuesday (Jan 7).
Anwar said Malaysia was looking forward to enhanced bilateral relations, particularly with the JS-SEZ, which to him was a spectacular move within the region as well as internationally.
Both Prime Ministers witnessed the exchange of the agreement for the JS-SEZ at the 11th Malaysia-Singapore Leaders’ Retreat here.
Anwar said both countries are led by politically stable governments, with clear economic policies.
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Beyond financial incentives, these characteristics will attract businesses and investments to the new economic zone, he said.
Wong said there were many advantages for foreign investors in the JS-SEZ.
"They should look at the entire ecosystem, not Johor by itself or Singapore by itself, but as an ecosystem whose parts complement one another.
"There are also many strengths that we can harness from both sides, that will allow both to be more competitive, enhance our value proposition, and jointly attract more investments to our shores," he said.
On Singapore's end, the authorities have engaged many businesses keen to do more out of Johor, he added.
"We already have existing incentives for businesses who want to expand overseas, and those businesses from Singapore can tap into those incentives.
"The greater potential from the project is not just Singapore business going to Johor, it is about both sides working together to attract new investment projects globally.
"If we can come together... to market the JS-SEZ and promote it as a combined destination, it will attract global investments to our respective countries," he said.
