Singapore: Singapore will continue to strengthen the fundamentals of the Johor-Singapore Special Economic Zone (JS-SEZ) to enhance its value proposition, according to its Deputy Prime Minister and Trade and Industry Minister Gan Kim Yong. He noted that the republic aims to improve the flow of goods and people between Singapore and Johor by simplifying clearance and customs procedures.

According to BERNAMA News Agency, efforts will be made to fortify the business ecosystem through streamlined approval processes, investment in talent development, and the establishment of a single touchpoint for businesses. Gan stated that the Ministry for Trade and Industry, together with EnterpriseSG and the Economic Development Board, have established a joint project office to support Singapore-based companies keen to expand and do more in the JS-SEZ. This initiative will complement the Invest Malaysia Facilitation Centre-Johor established by Malaysia.

Also in attendance at the JS-SEZ Business and Investment Forum were Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz and Johor Menteri Besar Datuk Onn Hafiz Ghazi. Gan emphasized that Singapore would strengthen its network of economic partnerships with like-minded nations and economic blocs, such as ASEAN, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, the Gulf Cooperation Council, and the European Union, to open up new markets and supply chain flows for businesses.

Gan highlighted that the JS-SEZ presents an opportunity for businesses to explore ways to strengthen their supply chains, enabling them to better respond to volatility and continue to grow. He mentioned that some businesses in Singapore might choose to expand their capacity in the JS-SEZ and develop new capabilities, while others may decide to twin their presence in both Singapore and Johor to leverage complementary strengths.

For example, South Korea's SPC Group has chosen to site its halal manufacturing plant in Johor while establishing a regional headquarters and innovation center in Singapore to drive research and development of new products. Gan also expressed hope that Malaysia and Singapore would attract new businesses not yet present in either country to invest in the JS-SEZ.

Gan concluded by expressing optimism that Malaysia and Singapore would team up with like-minded countries to improve connectivity and ease of doing business, joining hands with businesses and investors during times of global economic volatility and uncertainty. By doing so, both countries can further bridge their economies through the JS-SEZ, strengthen supply chains, and create jobs for people on both sides of the Straits.