SINGAPORE, October 31 — Malaysia and Singapore jointly declared today their intention to develop the Johor-Singapore Special Economic Zone (SEZ) and will conduct a feasibility study to enhance its ecosystem involving both countries. In a joint press conference alongside Prime Minister Datuk Seri Anwar Ibrahim, Singapore Prime Minister Lee Hsien Loong disclosed that Malaysia and Singapore will ink a memorandum of understanding (MoU) on this pivotal and promising project early next year following the completion of the feasibility study.
“Firstly, we aim to enhance the flow of goods between the two sides since the SEZ may lead to special tax arrangements and bonded warehouses, facilitating smoother border flows. “Secondly, we intend to establish improved and more convenient mechanisms for the movement of individuals who need to work on both sides of the Causeway,” Lee remarked during a live-streamed joint press conference with Anwar at the 10th Malaysia-Singapore Leaders’ Retreat in Singapore. He also noted that the SEZ would enrich the ecosystem of the Iskandar Malaysia economic development region as well as Singapore.
