Singapore has talent and technology; Johor has land and infrastructure, say UOB’s Lim Lay Wah and Tay Xiaohan of the planned Special Economic Zone.
During his introductory trip to Malaysia on Wednesday , newhighlighted the potential of the SEZ, saying that it could unlock massive economic benefits for both countries.
Both Shenzhen and Johor have abundant natural resources and land, as well as access to a young and growing workforce. Both are also strategically located, being close to major economic hubs - Hong Kong in Shenzhen’s case, and Singapore for Johor. With key parallels between Johor and Shenzhen, and with the development of the SEZ, it is possible for Johor to emulate Shenzhen’s success in the near future.
Penang, dubbed the Silicon Valley of the East, has a strong electrical and electronics ecosystem with a longstanding presence in chip assembly, packaging and testing. However, it is not uncommon for skilled workers such as engineers to choose to pursue similar jobs in Singapore for better employment packages.
A traveller scanning their QR code for immigration clearance at Woodlands Checkpoint on Mar 19, 2024. Manufacturers seeking expansion opportunities in the region due to the ongoing geopolitical climate are likely to be attracted to the SEZ. This is likely to enhance its competitiveness against neighbouring countries like Thailand and Vietnam.
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