Monday, January 15, 2024
Industry experts view the lifting of the passport requirement for travel between Singapore and the southern Malaysian state of Johor as a significant development that could expedite the establishment of a special economic zone (SEZ) by the two nations.
Aside from implementing a QR code system for border crossings, analysts have praised plans to potentially digitize cargo clearance processes at land checkpoints.
To give the Johor-Singapore Special Economic Zone a distinct investment focus, there are nevertheless calls for an early clarification of the zone’s geographic boundaries, particularly from the Malaysian perspective. Different experts have different opinions about the location and size of the SEZ in Johor state.
The potential advantages of the SEZ, if implemented with political commitment from both countries, were highlighted by Tan Wee Tiam, head of research and investment services at Johor Bahru-based property consultant firm KGV International. He emphasized that Singapore could concentrate on knowledge- and capital-intensive industries, while Iskandar Malaysia could play a complementary role in the utilization of land and other resources.
On January 11, Singapore’s Minister of Trade and Industry, Gan Kim Yong, and Malaysia’s Minister of Economy, Mohd Rafizi Ramli, signed a Memorandum of Understanding (MOU). Prime Minister Lee Hsien Loong and his Malaysian counterpart, Anwar Ibrahim, were present to witness the signing.
The purpose of the MOU is to lay the groundwork for a binding contract on the SEZ. The two nations will investigate ways to progress the Special Economic Zone (SEZ), such as accelerating clearance at land borders and encouraging collaboration in renewable energy.
Experts believe that the plan to expedite immigration procedures is a big step forward because, in many SEZs across the world, travelers entering the zone without a passport are not granted passport-free clearance.
Director of the philosophy, politics, and economics program at Taylor’s University in Malaysia, Ong Kian Ming, thinks that digitizing cargo clearance and doing away with passport requirements will unite Johor and Singapore into a single, efficient area where people and goods can move freely, benefiting businesses, workers, and investors on both sides of the border.
Wednesday, May 1, 2024
Wednesday, May 1, 2024
