Rafizi says JS-SEZ can shift investment from Vietnam to Malaysia and Singapore
11 Jul 2024
The Johor-Singapore Special Economic Zone (JS-SEZ) can be a platform to position Malaysia as a competitor to shift the focus of investments to Johor and Singapore from Vietnam, said Economy Minister Rafizi Ramli.
He said JS-SEZ is attractive to international companies that want to find a way to deal with their geopolitical risks and establish a foothold in Southeast Asia.
“ThE JS-SEZ is not only focused on companies from Singapore, but the greater potential is for companies from all over the world to come to Johor as they can have the best of both worlds.
“They can have the sophistication of Singapore, yet they can leverage the resource and cost advantages of Johor.
“Previously, the destination that was the focus of these companies was Vietnam, so with the JS-SEZ, we can position Malaysia as a competitor to divert investments that previously went to Vietnam, to Johor and Singapore instead,” he said during an information session on JS-SEZ at the Dewan Rakyat today.
Rafizi said JS-SEZ’s focus is on sectors in line with the government’s current policies that are high-value and technology-based, as outlined through the National Energy Transition Roadmap, the New Industrial Master Plan 2030, and the 12th Malaysia Plan.
The JS-SEZ will cover Iskandar Malaysia, including the 3,505sq km area under the administration of the Pengerang Municipal Council.
JS-SEZ will include Johor areas under the Iskandar Puteri City Council, Johor Bahru City Council, Pasir Gudang City Council, Kulai Municipal Council, Pengerang Municipal Council, and part of the Pontian Municipal Council.
The JS-SEZ is in its final stages, paving the way for a joint agreement expected to be signed in September.
The Johor and federal governments are working together to ensure JS-SEZ can attract global investors, especially involving private equity and venture capital.
Source: Bernama
