Singapore-Johor SEZ attracts US$4.2 billion surge in cross-border investment

In a testament to the power of partnership, the Johor-Singapore Special Economic Zone (JS-SEZ) has attracted more than S$5.5 billion (US$4.2 billion) in investments from Singapore-based companies since its inception.

Gan Kim Yong, the city state’s trade chief, said on Tuesday that the cross-border economic zone – the first of its kind involving Singapore and Malaysia – was a compelling illustration of the achievements that can arise from collaboration in an era of growing protectionism.

Companies were increasingly seeking stability, innovation and trust as trade routes were redrawn and technological disruptions escalated, Gan argued – with the JS-SEZ providing an efficient production base as well as access to resources and market opportunities.

“At a time when global trade is slowing and protectionist pressures are rising, the JS-SEZ stands as a strong illustration of what countries can achieve when they choose cooperation over contestation and partnership over protectionism,” he said to an audience of some 900 officials and business leaders from both countries, including his Malaysian counterpart Tengku Zafrul Aziz and Chief Minister of Johor Onn Hafiz Ghazi.

In January, Malaysian Prime Minister Anwar Ibrahim and his Singaporean counterpart Lawrence Wong witnessed the signing of a deal to establish the JS-SEZ after years of delays.