Singapore and Malaysia are creating a special economic zone (SEZ) in Malaysia’s Johor state, aiming to improve business connections and connectivity while combating a global economic slowdown.
SingaporeMalaysia Partnership for Johor State Special Economic Zone
Singapore and Malaysia are collaborating to establish a Special Economic Zone (SEZ) in Malaysia‘s Johor state, bordering Singapore. This joint effort aims to strengthen business ties and enhance connectivity between the two countries amidst a global economic slowdown. Malaysia has set a short timeline for Singapore to agree on the zone’s key parameters.
Background of the SEZ
The SEZ is intended to facilitate the movement of goods and people across the JohorSingapore Causeway, and to enhance the overall ecosystem of Iskandar Malaysia and Singapore. Iskandar Malaysia, established in 2006, is the main development corridor in southern Johor.
Location Advantage and Objectives
The strategic location of the planned SEZ will create opportunities for enhanced trade and economic activities between Singapore and Malaysia. It is envisioned to act as a catalyst for economic growth and development in the region, benefiting both countries.
Read the original article : Singapore and Malaysia Plan Joint Special Economic Zone in Johor State
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Source: Thailand business News