ACCCIM wants clear and comprehensive blueprint for Johor-Singapore SEZ

KUALA LUMPUR, Jan 7 — The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) has called for a well-structured and detailed blueprint for the Johor-Singapore Special Economic Zone (JS-SEZ) following the signing of the agreement between Malaysia and Singapore.

The blueprint, according to ACCCIM, should provide a clear framework to ensure the zone’s success, focusing on trade facilitation, investment, infrastructure, and collaboration between the two nations.

Datuk Ng Yih Pyng, the president of ACCCIM, expressed strong support for the agreement, which aims to enhance connectivity and streamline procedures to attract businesses and investors.

The JS-SEZ is expected to offer special tax incentives, including Pioneer Status and Investment Tax Allowance, to create a more competitive and business-friendly environment.

Ng stress the importance of clear planning and coordination in the development of the JS-SEZ, saying both Malaysia and Singapore must ensure that the identified projects, such as the 50 projects in the first five years, are achievable within a clear timeline, and the resources needed for their implementation must be well-defined.

He added that that an effective regulatory framework is vital to preserve investor confidence and allow businesses to operate without unnecessary hurdles. This will also encourage foreign investment and help both countries maintain their strong economic ties.

The trade group also pressed for clarity on the allocation of responsibilities for the management and operations of the SEZ, saying a well-defined ownership structure will ensure the smooth operation of the zone and help resolve any operational challenges that may arise during its development.

Ng went on to highlight the need for skill development, vocational training, and capacity-building programmes to meet the human resource demands of the industrial sectors, and urged the government to focus on these to ensure there would be a workforce in place for the opportunities presented by the SEZ.

Earlier, Malaysian and Singapore exchanged the joint agreement n JS-SEZ along with six other memoranda of understanding (MOUs) and one letter of intent (LOI).