Malaysia and Singapore have signed an agreement to establish a special economic zone in Malaysia’s southern Johor state, aimed at attracting global investment and promoting cross-border cooperation.
Malaysian Prime Minister Anwar Ibrahim and Singapore Prime Minister Lawrence Wong signed an agreement on Tuesday to create a special economic zone to attract global investment and ease the cross-border flow of goods and people. The Johor-Singapore special economic zone will offer tax breaks and include several flagship areas for various sectors, from manufacturing and aerospace to tourism, energy and healthcare.
Officials are targeting to attract 50 projects within the economic zone in the first five years, creating 20,000 skilled jobs. Anwar described the zone as a “unique initiative” that harnesses each other’s strengths and deepens linkages in a world that is becoming more polarized. Wong said the neighbors’ strong linkages are an important foundation and building block for an integrated region
ECONOMICS TRADE INVESTMENT SINGAPORE MALAYSIA
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