Sunny outlook for Johor
14 Jul 2024
More firms keen on investing in special economic zone with S’pore
As the discussions for the proposed Johor-singapore Special Economic Zone (JS-SEZ) enter their final stages, the project is attracting more interest from investors and multinational companies.
State investment, trade, consumer affairs and human resources committee chairman Lee Ting Han said there has been a series of engagements by the Johor government with stakeholders pertaining to the JS-SEZ.
“We have been talking to these stakeholders in Singapore and Kuala Lumpur. Soon, there will be another forum with stakeholders in Johor.
“The state government will continue to hold such engagements before the JS-SEZ framework agreement is signed in a couple of months.
“Feedback for the project has been very encouraging so far,” he said.
Lee, who is also the Paloh assemblyman, said the state government has received many enquiries about the JS-SEZ from multinational companies that are considering whether to pour their investments into the JS-SEZ, Penang or Vietnam.
“These companies are waiting to know what benefits they will get in terms of things like corporate tax or income tax if they invest in JS-SEZ.
“These matters are being ironed out and once the JS-SEZ framework is signed, then we can see multinational companies moving their operations here,” he said.
The state government, said Lee, is confident that having the JS-SEZ will be a game changer that benefits not only Johor but Malaysia as a whole.
“The investments we are looking at for JS-SEZ will provide not only employment opportunities but also high-paying ones.
“This is essential for us to address brain drain, which affects Johor the most among the states.
“With higher salaries, our local talent can work here with pay that is on par with working abroad,” he said.
On Thursday, Johor Mentri Besar Datuk Onn Hafiz Ghazi said the framework for the JS-SEZ is in the final phase of discussions and is expected to be finalised in September.
He noted during an investment forum organised by the Economy Ministry in Kuala Lumpur recently that adequate manpower, ease of doing business and good connectivity are among the main factors being worked on to make the JS-SEZ a success.
The forum brought together some 200 stakeholders to discuss opportunities, challenges, strategies and cooperation involved in implementing the JS-SEZ framework.
Onn Hafiz has also repeatedly expressed the state’s aspiration to turn the JS-SEZ into the “next Shenzhen of South-east Asia”.
Source: The Star
