Since a Memorandum of Understanding was signed between Singapore and Malaysia in January, the proposed Johor-Singapore Special Economic Zone ( SEZ ) has sparked a lot of excitement.
New Singapore Prime Minister Lawrence Wong made a note of the potential of the SEZ during his introductory trip to Malaysia on Wednesday ( 12 July ), stating that it could bring significant economic benefits to both nations.
” People harp a lot on the competition ( between our two economies ), but really, we are complementing one another”, said Mr Wong.
His rival, Mr Anwar Ibrahim, said that strategies for the area are pretty close to being finalised.  ,  ,
Details of the SEZ’s geographic location and the certain economic sectors are still being worked out, just like the prospective” Shenzhen of Southeast Asia” is described as. The Malaysia and Singapore working groups are scheduled to hold a number of meetings this month to provide more precision. A fully functional deal is anticipated to get signed in September.  ,
When Malaysia and Singapore made their plans to work in the SEZ, people began to question the types of businesses and industries that would occupy and prosper in this new area. Johor is proposing 16 economic areas as part of the area, including electrical and electronics, health, aircraft and developing.
Chief Minister Onn Hafiz Ghazi even stated that the condition government has proposed the area to stretch across six regions, including Johor Bahru, Iskandar Puteri, Pasir Gudang, Pontian, Kulai, and Kota Tinggi, encompassing a land mass of 3, 505 square kilometers, during a meeting of the Johor state assembly next quarter. This is more than four times the size of Singapore, and almost double the size of Shenzhen.  ,  ,
Both Shenzhen and Johor have abundant natural resources and property, as well as exposure to a fresh, expanding labor. Both are also carefully located, being close to major financial centers- Hong Kong in Shenzhen’s situation, and Singapore for Johor. It is possible for Johor to imitate Shenzhen’s success in the near future with essential similarities between Johor and Shenzhen and the expansion of the SEZ.  ,