Minister of Investment, Trade and Industry, Yang Berhormat Senator Tengku Zafrul Abdul Aziz,

 

Chief Minister of Johor, Yang Amat Berhormat Dato’ Onn Hafiz Ghazi,

 

Distinguished guests,

 

Ladies and gentlemen,

 

1. Good afternoon. First let me apologise for the very light lunch we offered to our delegates, because we have a HealthierSG campaign. We like not only for Singaporeans to be healthy, but all our critical partners to be healthy. But more importantly, we offered a very light lunch because we want to keep a very strong appetite for cooperation and economic development, so that we are always hungry for more.

 

2. It is indeed my pleasure to join you at the Second Johor-Singapore Special Economic Zone (JS-SEZ) Joint Investment Forum in Singapore.

 

3. Let me first thank Minister Tengku Zafrul and Chief Minister Dato’ Onn Hafiz for their strong partnership and steady leadership. The inaugural forum in Johor earlier this year reaffirmed what we can achieve when Singapore and Malaysia work together with our business communities.

 

4. I would also like to acknowledge the many officials from both sides for their hard work and the team spirit in implementing the vision of the JS-SEZ.

 

5. And to our business leaders and partners joining us today – a very warm welcome to all of you; you are the ones who will ultimately turn the vision of the JS-SEZ into reality, and bring in investments, create jobs and opportunities.

 

Why the JS-SEZ

 

6. The global economy is shifting in fundamental ways.

 

a. Trade routes are being redrawn as companies shorten and diversify their supply chains.

 

b. Technology is also transforming how businesses are done – from manufacturing and logistics, to energy and services.

 

c. And with greater volatility and uncertainty, businesses are placing a higher premium on consistency and reliability.

 

d. These trends point to what is increasingly important for companies today – stability, innovation, and trust.

 

e. They want a base where they can produce efficiently, access resources, tap into new markets, and partner with governments that are able to understand and support business needs.

 

7. This is what the JS-SEZ offers.

 

a. Johor provides scale, land and industrial capacity.

 

b. Singapore brings capital, connectivity and a dynamic innovation ecosystem.

 

c. Together, we give investors something distinctive – a location built on the complementary strengths of both Singapore and Malaysia’s economies, riding on the proximity of Singapore and Johor to create a dynamic economic corridor that can enhance the competitiveness of both our economies.

 

d. This is about neighbours working together side by side to create something stronger together.

 

Progress Thus Far

 

8. The JS-SEZ has made good headway.

 

a. Johor has designated nine flagship zones across the southern state, introduced an attractive tax incentive package, and set up the Invest Malaysia Facilitation Centre – Johor to assist investors.Tengku Zafrul announced additional enhanced incentives just now.

 

b. Singapore has also established a Joint JS-SEZ Project Office, comprising MTI, EDB and EnterpriseSG, to work directly with our Malaysian counterparts, smoothen regulatory processes, and help companies establish themselves on both sides.

 

9. This partnership is already taking shape on the ground.

 

a. Archisen, a Singapore-based agritech company which develops and operates smart indoor vertical farms, exchanged an MoU with Southern Catalyst earlier today to develop a 200-acre modern agricultural hub in Sedenak.

 

i. The project will apply indoor farming technologies to boost food production, and in doing so, contribute to the region’s food security and agritech development.

 

b. Kuehne + Nagel, a global logistics firm, has developed an integrated transport and logistics network across Singapore and Johor.

 

i. This will enable it to offer cost-effective, scalable and resilient supply chain options for its clients.

 

c. ResMed, a medical technology firm based in the US and Australia, operates on both sides of the Causeway.

 

i. This allows the company to leverage Johor’s cost and scale advantages with Singapore’s advanced manufacturing and logistics capabilities, in order to assemble and export its products to global markets more competitively.

 

10. These examples show what the JS-SEZ makes possible for companies, to be able to operate across both sides of the Causeway as one integrated ecosystem to grow their operations and strengthen their supply chains.

 

Significance of the JS-SEZ

 

11. To both Singapore and Malaysia, the JS-SEZ represents the creation of a connected business community that can grow together and compete more effectively in a changing global environment.

 

a. For Singapore, the JS-SEZ complements our industrial transformation efforts, giving companies room to scale while staying anchored to our innovative and financial ecosystem.

 

b. For Malaysia and Johor, the JS-SEZ is a powerful engine to attract new investments, foster technology partnerships and develop important talent.

 

c. Together, we are building a cross-border ecosystem that supports enterprise growth, innovation and the creation of good jobs on both sides.

 

12. Singapore and Malaysia will work closely together to realise the full potential of the JS-SEZ.

 

a. First, anchor flagship projects.

 

i. We will attract and anchor flagship projects for key sectors that we want to grow, such as advanced manufacturing, logistics, green industries and digital services.

 

ii. 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.

 

iii. Since the signing of the JS-SEZ MOU in January 2024, Singapore-based companies have committed more than S$5.5 billion in investments into Johor. We look forward to more investments in the months ahead.

 

b. Second, to make it easier to do business.

 

i. We must continue to make the JS-SEZ more business-friendly and future-ready.

 

ii. This means streamlining our regulatory processes so that businesses can move faster; improve the ease of cross-border flows of goods and professionals between Singapore and Johor; and strengthen skills and talent development to raise the quality of human capital in the JS-SEZ.

 

c. Third, opportunities for SMEs.

 

i. Both Singapore and Johor have a large base of SMEs, and we want them to benefit from the opportunities in the JS-SEZ as well.

 

ii. When multinationals invest here, they create opportunities for local suppliers, logistics firms and service providers to plug into regional and global value chains.

 

iii. This will generate broader economic benefits, and help both our economies grow stronger, more resilient industrial ecosystems.

 

Conclusion

 

13. 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.

 

14. I look forward to working with my counterparts in Malaysia and Johor, as well as our private sector to bring tangible benefits for businesses, workers and communities in Singapore and Malaysia.

 

15. I invite all of you here to join us on this exciting new journey to make the JS-SEZ a success.

 

16. Thank you.