But in every problems, there will be chances, he said.
“As firms seek to reconfigure their production and supply chain provisions, there will be new options for those who are resilient and fast to adapt to the new environment, ” Mr Gan added.
For example, Archisen, a Singapore-based agritech company, and Malaysian state-owned Johor Corporation (JCorp ) subsidiary, FarmByte, are jointly developing a smart indoor vertical farm in Nusajaya Tech Park that is expected to produce over 300 tonnes of leafy vegetables per year, he said.
“The JS-SEZ builds on the strong, longstanding economic partnership between Malaysia and Singapore to open a new frontier of opportunities for businesses, ” said Mr Gan.
At the same time, Mr Gan said that Singapore is committed to strengthening the basics of the Johor-Singapore SEZ in order to increase its value statement.
He pledged that both sides may aim to improve the flow of goods and people between Singapore and Johor by improving certification techniques and traditions techniques.
Both countries are willing to optimize approval processes, engage in skill development and create a second touchpoint for businesses, he said.
A joint project office to support Singapore-based companies keen on expanding into the zone will be set up by Singapore’s Ministry of Trade and Industry, together with Enterprise Singapore and the Singapore Economic Development Board ( EDB), he said.
The office will complement the Invest Malaysia Facilitation Centre- Johor ( IMFC-J) established by Malaysia.
The IMFC-J opened in end-February at Forest City. Johor deputy minister Onn Hafiz had called it a one-stop company that offers business conversation services for businesses willing on investing in the SEZ, and it is the first of its kind outside Klang Valley.
“At a period of considerable uncertainty, uncertainty and anxiety in the world economy, it is even more crucial that we team up with like-minded places; twice over on better communication and ease of doing business; and join hands with businesses and investors, ” said Mr Gan.
“This way, both Singapore and Malaysia is further gate our economies through the JS-SEZ and improve our supply chains, so that we can become more energetic and resilient up, and continue to create great jobs for individuals of both countries … across the Causeway, ” he added.