Debated in Parliament on 10 Sep 2024.
Mr Liang Eng Hwa asked the Deputy Prime Minister and Minister for Trade and Industry (a) how can the Singapore-Johor Special Economic Zone be value accretive to the Singapore economy and our land and labour resources; and (b) what are the expected developmental timelines.
As a small economy, Singapore must focus on the global market to sustain our economic growth. The objective of the Johor-Singapore Special Economic Zone (JS-SEZ) is to build on the complementary strengths of Singapore and Johor to better compete for global investments together. Companies can tap Singapore’s offerings as a business and financial hub, and benefit from Johor’s abundant supply of land and workforce as well as Malaysia’s market.
The Ministry of Trade and Industry has worked closely with industry groups, trade associations and chambers to gather their feedback on the JS-SEZ. In a report released by the Singapore Business Federation in July 2024, about 90% of 160 Singapore businesses surveyed found Johor an attractive place for investment, but would like to see improvements in labour availability, ease of doing business and the flow of goods and people. We have thus prioritised these issues in the discussions with our Malaysian counterparts on the JS-SEZ. We are working with them towards a substantive conclusion by the 11th Malaysia-Singapore Leaders’ Retreat later this year.
PAPERCUTS