A joint Malaysian-Singaporean Special Economic Zone in Johor will aim to attract international investments, with both nations aiming to create 20,000 skilled employment within the first five years.
Facilitating the expansion of 50 projects within the first five years and reaching 100 projects within the first ten years are the goals, Malaysia’s Economy Minister Rafizi Ramli revealed the SEZ’s targets in number of projects and job creation at the 11th Malaysia-Singapore Leaders’ Retreat in Putrajaya on 7th January 2025.
According to Prime Minister Dato’ Seri Anwar Ibrahim, “The SEZ has more potential if both parties cooperate to draw in new investment projects from around the world, not just if Singaporean companies relocate to Johor.”
Meanwhile, Rafizi Ramli shared that Malaysia will provide the JS-SEZ a tax incentive package that includes a special corporate tax rate for businesses that make new investments in high-growth, high-value-added operations there.
Additionally, he disclosed that the JS-SEZ will provide a special personal income tax rate, which Malaysia’s finance minister will subsequently declare.
The JS-SEZ will comprise Iskandar Puteri, Pengerang, Johor Bahru city centre, Tanjung Pelepas-Tanjung Bin, Pasir Gudang, Senai-Skudai, Sedenak, Forest City and Desaru.
Investments in 11 economic sectors from third countries and Singaporean businesses growing in the JS-SEZ would be encouraged and facilitated by Malaysia and Singapore. These industries include manufacturing, logistics, food security, tourism, energy, financial services, business services, the green economy, the digital economy, and health and education.
