UPDATE ON PROGRESS
At the meeting, both countries agreed that the committee would comprise Malaysia’s minister of economy, minister of investment, trade and industry, the Menteri Besar of Johor, as well as Singapore’s minister for national development, minister for energy, trade and industry and minister for transport.
According to the joint statement, both countries reaffirmed their commitment to ensuring that the institutional, regulatory and operational frameworks needed for the JS-SEZ are effectively put in place.
The committee was also updated on the progress made under the JS-SEZ Joint Working Committee and its working groups.
Both countries also welcomed ongoing efforts to support businesses exploring investment opportunities in the Special Economic Zone, including through Singapore’s JS-SEZ Project Office and Malaysia’s Invest Malaysia Facilitation Centre – Johor.
At the meeting, both sides noted Malaysia’s ongoing initiatives under Budget 2027 to support the JS-SEZ.
This includes the development of Nexus Sedenak – a new industrial and supply chain hub – improved infrastructure and transport connectivity, facilitation of strategic investments and the strengthening of financial services in Forest City.
“These initiatives complement bilateral efforts to enhance the JS-SEZ’s competitiveness,” said both countries.
The committee also took note of the progress and forward plans presented by the Special Economic Zone’s Joint Working Committee. Plans covered the adequate planning and coordination of infrastructure and utilities development to align the overall development plans and anticipated investment needs.
The joint working committee also reported good progress on effective implementation, including targeted investment missions and engagements, investment realisation, cross-border connectivity and talent development collaborations between both countries for JS-SEZ.
“Both sides expressed satisfaction with the positive momentum of bilateral cooperation and reaffirmed their commitment to working closely through the JSCMC to drive inclusive growth, strengthen regional competitiveness, and further deepen the longstanding partnership between Singapore and Malaysia,” the committee said.
Mr Chee said the committee is a useful platform for ministers from both sides to discuss areas where they can strengthen their cooperation.
Examples of areas of collaboration include talent development, the movement of people and goods, facilitating trade and investments, and doing joint promotions together.
He added that both sides are looking at how to strengthen connectivity, such as through the enhancement of the cross-border taxi services between Singapore and Johor and the RTS link that comes into operation in February next year.
The upcoming JS-SEZ masterplan and investment blueprint represents a “medium- to longer-term” version of what both countries want to achieve for the SEZ, he added.
“But to be able to realise this vision, a lot of hard work needs to go in between the various agencies to iron out some of these specific initiatives on talent development, on facilitating the movement of people and goods, on facilitating trade and investments, looking at transportation and connectivity,” he said.
The launch of the masterplan was initially planned for March this year. Mr Akmal said it will likely be launched by the end of this year, coinciding with the annual Malaysia-Singapore Leaders’ Retreat.
“With this blueprint in place, we expect the momentum for 2027 will hopefully be higher in terms of the commitment from (both) countries,” he said.
Mr Akmal said that in terms of progress, the numbers are “amazing”.
“I mean the achievements that we have got so far, really beyond many expectations,” he said.
“But at the same time, there (is) room for us to further improve, in fact, to explore more opportunities in terms of the strategy and the chances that we can actually really focus on,” he said, adding that the example of the Special Economic Zone can be “showcased” when Singapore takes the ASEAN chairmanship next year.
Mr Chee said the cooperation leads to a “win-win, mutually beneficial outcome”, which will be important to making it sustainable.
It also reflects the larger bilateral friendship and partnership between Singapore and Malaysia, and between Singapore and Johor, he said.
“And if I may add, in a time like this, when the world is more uncertain, less predictable … like-minded partners and close neighbours, we need to work even more closely together and achieve this growth, prosperity, and benefits … for our people,” he added.