“Improving connectivity will complete the supply chain between Singapore, Johor and Malaysia,” he added.
During his speech at the event, Mr Onn Hafiz said that government officials from both Singapore and Malaysia would attend a workshop from Aug 28 to Aug 30 to discuss the details of the SEZ agreement.
He added that the attorney-general chambers from both countries will then meet in September and that the final agreement is expected to be signed and announced in the fourth quarter of 2024, during the Malaysia-Singapore Leaders’ Retreat.
“Even though the agreement will be signed by the end of the year, we are taking actions to ensure we will have a smooth roll-out,” he added.
CNA understands that the leaders’ retreat is slated to be held in Singapore in December 2024.
RHB Bank’s Mr Mohd Rashid told CNA that the developments in which the SEZ proposal was being discussed by both countries was a signal that there is commitment from both to push through the agreement.
“It takes two to tango. Now it’s not just Johor and Malaysia, it’s also Singapore realising that it’s a good time for us to work together,” said Mr Mohd Rashid.
“There is now a lot of room to collaborate, rather than to work in silos. The conversation now is different from what it was three to four years ago,” he added.
Mr Onn Hafiz said in a fireside chat after his speech that the JS SEZ proposal is being discussed at an opportune moment when the “stars are aligned” and that there is political will from both sides to see through the negotiations.
“There is political will that the Johor special economic zone can happen now, maybe it’s because the new Yang Di Pertuan Agong happens to be from Johor. We have the royal backing from the Johor palace for this SEZ (to come to fruition),” he added.
