“This partnership is already taking shape on the ground,” says Gan, highlighting three companies that are looking to tap into the JS-SEZ.
The first is Archisen, a Singapore-based agritech company which develops and operates smart indoor vertical farms. Archisen had signed a memorandum of understanding (MOU) with Malaysian government-linked Southern Catalyst before the forum to develop a 200-acre modern agricultural hub in Sedenak.
Global logistics firm Kuehne + Nagel has also developed an integrated transport and logistics network across Singapore and Johor, which will enable it to offer cost-effective, scalable and resilient supply chain options, Gan adds.
Finally, medtech firm ResMed will operate on both sides of the Causeway. This will allow the US- and Australian-based company to leverage Johor’s cost and scale advantages with Singapore’s manufacturing and logistics capabilities.
See also: JS-SEZ ‘once-in-a-generation opportunity’ for cross-border investors, says CGSI’s Tay Wee Kuang
Gan adds that both parties – Singapore and Malaysia – will work closely to realise the full potential of the JS-SEZ. This includes attracting and anchoring flagship projects for key sectors such as such as advanced manufacturing, logistics, green industries and digital services.
"These projects will demonstrate the potential of the JS-SEZ to other investors, showcasing how firms can co-locate, grow their capacity, and expand seamlessly across both sides of the Causeway to tap into regional markets," he continues.
To Gan, the JS-SEZ must also be more business-friendly and future-ready, such as streamlining the SEZ's regulatory processes so businesses can move faster, improving the ease of cross-border flows and strengthening skills and talent development to raise the quality of human capital in the JS-SEZ.
The deputy prime minister also saw opportunities for small- and medium-sized enterprises (SMEs), given that Singapore and Johor have a large base of such companies.
"When multinationals invest here, they create opportunities for local suppliers, logistics firms and service providers to plug into regional and global value chains," he shares. "This will generate broader economic benefits and help both our economies grow stronger, more resilient industrial ecosystems."
In his speech, Malaysia's Minister of Investment, Trade & Industry, Tengku Zafrul Aziz, announced that all manufacturing projects for non-sensitive industries within the identified JS-SEZ zones will be granted a fast-track approval of the manufacturing license within just seven working days.
The fireside chat featured Johor's chief minister, Dato' Onn Hafiz bin Ghazi (middle) and Dr Beh Swan Gin, permanent secretary from Singapore's Ministry of Trade and Industry (right). It was moderated by Singapore Business Federation's CEO Kok Ping Soon. Photo: Enterprise Singapore
In a fireside chat later at the forum with Johor's chief minister, Dato' Onn Hafiz bin Ghazi and moderated by Singapore Business Federation's chief executive officer (CEO) Kok Ping Soon, Dr Beh Swan Gin, permanent secretary from the Ministry of Trade and Industry, said that the project office established has focused on companies that can benefit from the twinning operations in Johor and Singapore.
When asked where the $5.5 billion came from, Beh said it came from different sectors such as food manufacturing and food processing, like Archisen, as well as data centres.
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JS-SEZ a ‘win-win’ for Malaysia and Singapore
In his welcome address, Lee Chuan Teck, executive chairman of Enterprise Singapore, called the JS-SEZ a “win-win” proposition for both Malaysia and Singapore.
Noting that Johor and Singapore are “natural partners” linked by the two land crossings, by history, family and economic ties, the JS-SEZ makes sense at different levels, Lee said. “At the geopolitical level, it is a firm rejection of the zero-sum contestation that is becoming more prevalent globally.”
“At the economic level, the SEZ builds on our complementary strengths: Johor’s abundance in talent and resources; Singapore’s capital and global connectivity to present a compelling destination for global investments,” he adds.
Since the signing of the agreement in January, Lee said that the JS-SEZ joint project office in Singapore and its Malaysian counterparts have received over 1,000 enquiries across sectors like manufacturing, logistics, data centres and others.
