Two-country SEZ by Singapore & Malaysia

When FIFA awarded hosting rights to Japan and Korea in 2002, it was a good opportunity to see what two countries can jointly achieve as a common goal. The 17th FIFA World Cup known as Korea Japan 2002 was clear evidence of pulling strengths together in such a remarkable global sporting project.

 

Now, who would have thought that a similar collaboration will begin to happen in development of Special Economic Zones? In January 2024, the governments of Malaysia and Singapore decided to take a bold step to develop an SEZ project. The project is designed to explore technical resources and economic opportunities of both countries to develop the earmarked site in Johor State of Malaysia. This move is expected to usher in a free flow of trade and to strengthen economic ties of both countries.

 

The Minister of Economy in Malaysia, Rafizi Ramli in describing the partnership stated that “the zone presents an unprecedented opportunity”. The President of Singapore, Lee Hsien Long and the Prime Minister of Malaysia Anwar Ibrahim, who were both present at the signing ceremony, shared the optimism that the $2.2billion project will ease traffic congestion on the causeway connecting the two countries, often seen as the busiest land crossing in the world.

 

FEMOZA is highly committed to offer technical support and necessary knowledge base for countries who might be interested in exploring similar initiatives.