Malaysia, Singapore announce deal on Johor economic zone

Kuala Lumpur: So, Malaysia and Singapore just announced this cool deal about a special economic zone in Johor. It’s all about boosting investment and making it easier for goods and people to move between the two countries.

They first talked about this idea a year ago, and it’s finally happening! Singapore’s Prime Minister Lawrence Wong was in Malaysia to share the news with Malaysian Prime Minister Anwar Ibrahim. Wong mentioned that this project is super important for both countries to stay competitive and attract more investments.

What’s interesting is that it’s not every day you see two countries teaming up like this. They’re looking to bring in high-value investments in areas like manufacturing, logistics, tourism, and even energy transition. The goal is to kick off around 50 projects in the first five years and create about 20,000 skilled jobs.

To support this, Malaysia will set up an infrastructure fund for companies wanting to invest there, while Singapore will have its own fund to help its businesses in Johor. Plus, thousands of Malaysians travel to Singapore daily for work and study, which often leads to traffic jams at the busy border crossing.

The two leaders are also open to ideas for a high-speed rail link between the countries, but they want the private sector to take the lead on that one. Sounds like an exciting time ahead for both nations!