KUALA LUMPUR, Malaysia: Malaysia and Singapore have entered into a significant agreement to create a special economic zone aimed at attracting global investment and enhancing cross-border trade.
The Johor-Singapore special economic zone, situated in Malaysia's Johor state, will focus on key sectors including manufacturing, aerospace, tourism, energy, and healthcare, with plans to attract 50 projects in the first five years, generating 20,000 skilled jobs.
Malaysian Prime Minister Anwar Ibrahim described the collaboration as a "unique" partnership that moves beyond traditional rivalries, emphasizing the mutual benefits of working together.
Singapore Prime Minister Lawrence Wong highlighted the strong ties between the two nations as a foundation for regional integration, stressing the need for ASEAN to enhance its competitiveness globally.
As Malaysia chairs the Association of Southeast Asian Nations (ASEAN) this year, the Johor-Singapore economic zone represents a strategic effort to strengthen regional cooperation and attract global investors.