MORE incentives related to the Johor-Singapore Special Economic Zone (JS-SEZ) will be announced next week as part of Malaysia and Singapore’s ongoing collaboration to attract high-value investments, according to Investment, Trade and Industry Minister Tengku Zafrul Abdul Aziz.
Speaking during a fireside chat at the Asia Future Summit in Singapore on Tuesday, Tengku Zafrul revealed that the announcement will be made at a bilateral conference on 14 October, jointly organised by Malaysia’s Ministry of Investment, Trade and Industry (MITI), Singapore’s Ministry of Trade and Industry (MTI), and the Johor state government.
“There will be some good news that we will be sharing. We have to wait till Tuesday,” he said during a session moderated by The Business Times editor, Chen Huifen.
While not disclosing specifics, Tengku Zafrul suggested that the announcement would bolster investor momentum for the economic zone, which is designed to leverage the geographical and economic strengths of both Johor and Singapore.
He emphasised that economic cooperation between Malaysia and Singapore has become increasingly vital and that both countries must remain stable and strong to create an environment conducive to growth.
“It is better to be friends than enemies, better to be collaborators together. We have shown that we can, and I hope the JS-SEZ is an example of how two countries can work together,” he said.
He added that areas such as manufacturing present ample opportunity for both nations to complement one another and attract multinational companies seeking a strategic base in Southeast Asia.
Turning to regional dynamics, Tengku Zafrul stressed the importance of ASEAN maintaining its centrality and neutrality amid intensifying global tensions.
“This is where, for Malaysia and for ASEAN, we need to ensure that we manage these two giants (China and the United States). We have got to show that we are acting based on principles,” he said, referring to the importance of upholding multilateralism.
He noted that the upcoming ASEAN Summit in Kuala Lumpur is expected to see member states sign the upgraded ASEAN Trade in Goods Agreement (ATIGA), a development aimed at boosting intra-ASEAN trade.
Tengku Zafrul also expressed optimism that the bloc would reach a substantial conclusion on the Digital Economy Framework Agreement (DEFA), which is intended to enhance digital trade, especially for small and medium-sized enterprises (SMEs).
Reflecting on Malaysia’s domestic investment environment, he acknowledged that bureaucracy has long hindered progress but said the government is actively working to address such challenges.
“We must ensure our people are ready to embrace this new way of doing things, which reflects evolving investor expectations,” he said, adding that initiatives like the Invest Malaysia Facilitation Centre – Johor (IMFC-J) and the use of artificial intelligence in regulatory processes could reduce bottlenecks and attract more investors to the region. - October 9, 2025
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