On 11 January 2024, Malaysia and Singapore signed a Memorandum of Understanding ("MOU") to work on a Johor-Singapore Special Economic Zone ("JS-SEZ") to strengthen economic connectivity and cooperation between Johor and Singapore.
Under the MOU, Malaysia and Singapore have agreed to work towards improving cross-border flows of goods and people and strengthening the business ecosystem within the JS-SEZ to support investments. The JS-SEZ rides on the improved growth of Johor and Singapore's substantial investment in the region.
Aside from the MOU, the two countries will also look into various initiatives aimed at developing the JS-SEZ, including the following:
- Establishment of a one-stop business/investment service centre in Johor to streamline the application processes for licences needed to establish a business presence in Johor by Singapore entities;
- Adoption of a passport-free QR code clearance system to expedite clearance of people at the land checkpoints, as well as digitised processes for cargo clearance at the land checkpoints;
- Holding an investors' forum to seek feedback on the JS-SEZ;
- Facilitating Malaysia-Singapore renewable energy cooperation in the JS-SEZ;
- Developing training modules to address talent and skills gaps for relevant industries in the JS-SEZ; and
- Organising joint events between Johor and Singapore to promote investment into the JS-SEZ.
