2023 Economic Growth Normalised, Supported By Recovery In Economic Activities And Labour Market Conditions

• Johor-Singapore Special Economic Zone (JS-SEZ) poised to become ASEAN’s promising investment and services hub
• Almost 1,000 policymakers and captains of industry from both Malaysia and Singapore are expected to converge at inaugural forum
• JS-SEZ also aimed at supporting the deepening of ASEAN’s economic integration amid current trade challenges

The Ministry of Investment, Trade & Industry (MITI) Malaysia, together with the Ministry of Trade and Industry (MTI) Singapore and the Johor State Government have collaborated to organise the Johor-Singapore Special Economic Zone (JS-SEZ) Business and Investment Forum on 21 April 2025, at the Persada Johor Convention Centre in Johor Bahru, Johor. The forum presents a strong public-private collaboration, which also involves the Malaysian Investment Development Authority (MIDA), Iskandar Regional Development Authority (IRDA), Invest Johor, Enterprise Singapore (EnterpriseSG), Economic Development Board (EDB) as well as the CIMB Group and Maybank Group as Strategic partners.

The event has been oversubscribed, with almost 1,000 registered participants. This landmark event with the theme "JS-SEZ: Bridging Economies, Strengthening Supply Chains" will welcome high-level policymakers, business leaders, Government-Linked companies, institutional investors and industry representatives, making it one of the largest fora on economic cooperation between Malaysia and Singapore.

A key highlight of the JS-SEZ Business Forum was the attendees’ access to first-hand views of JS-SEZ from top level policymakers including the Chief Minister of Johor, YAB Dato’ Onn Hafiz Ghazi; the Deputy Prime Minister and Minister of Trade & Industry, Singapore, His Excellency Gan Kim Yong and the Minister of Investment, Trade & Industry, Malaysia, YB Tengku Datuk Seri Utama Zafrul Aziz, as the main host of the event.

Three panel discussions on the first day will feature policymakers, captains of industry and subject-matter experts engaging in high-impact discourse, offering valuable insights into the unique offerings and growth potential of the JS-SEZ. With Malaysia and Singapore’s complementary strengths, JS-SEZ is set to become ASEAN's next investment powerhouse.

There will also be discussions on themes such as Fostering Business Expansion and Transforming Talent and Technology; Innovation & Wealth Creation in the MalaysiaSingapore Nexus and Building a Future-Ready Supply Chain. These discussions will feature
valuable insights and recommendations from various government and industry stakeholders, while reinforcing the JS-SEZ as a highly strategic regional hub for investment, innovation and sustainable growth, not only for Malaysia and Singapore, but also the rest of ASEAN.

YAB Dato’ Onn Hafiz expressed optimism about the JS-SEZ, and said, “Johor and Singapore have been economic partners for a long time. The JS-SEZ will see us unlocking much more potential to significantly contribute to Johor's ambition of becoming a regional hub for sectors such as digital economy, R&D, advanced manufacturing, agrotech, tourism and logistics. We are working closely with the Federal Government to ensure that our probusiness policies continue to attract hi-tech, high value and green investments that would create better-paying job opportunities, while enhancing our efforts for sustainable growth in Johor.”

YB Tengku Zafrul, on the other hand, emphasised the strategic geoeconomic significance of the JS-SEZ, particularly in advancing ASEAN’s economic agenda. He said, “The fast-changing global world order is requiring nations like Malaysia and other ASEAN nations to operate with not just agility and flexibility, but also stamina and resilience. As the JS-SEZ leverages on the complementary strengths of Malaysia and Singapore, we are also improving alignment on regional policy and infrastructure, enhancing value creation across critical industries, and strengthening ASEAN’s supply chains. MITI looks forward to working with the Johor State Government, MTI and other key stakeholders on making the JS-SEZ a preferred destination for quality investments. This is what will drive future growth, jobs, and innovation within ASEAN.”

Another highlight of the forum was the exchange of two Memoranda of Understanding (MoUs) involving:

• Pertamina Energy Terminal (PET) and Port of Tanjung Langsat (TLP), on a green bunkering collaboration, targeting three million metric tonnes in trading volume by 2025.
• Maybank and Perbadanan Usahawan Johor (PUJB), for an SME financing framework to enhance capital access and business development support within the JS-SEZ.

On Day Two of the event, the JS-SEZ Forum will feature a supply chain seminar titled "Unlocking Supply Chain Opportunities for Local Companies, Empowering Economies, Connecting Communities”. A panel of distinguished speakers and top executives – from Super Micro Computer Malaysia, Ferrotec Power Semiconductor Malaysia, Cape EMS, Insulet Malaysia, and AirTrunk Malaysia – would share strategic insights into regional supply chain optimisation and cross-border enterprise development.

There will also be dedicated business matching sessions with anchor companies such as Hershey Malaysia and ByteDance. A ‘Business Clinic’ for those requiring personalised consultation and tailored support will connect participants directly with key agencies such as MIDA (main organiser), Invest Johor, IRDA, Royal Malaysian Customs Department, Tenaga Nasional Berhad, Ministry of Economy, Ministry of Human Resources, Department of Labour, Inland Revenue Board of Malaysia and Local Councils.

The JS-SEZ’s dynamic format is aimed at converting opportunities into tangible commercial outcomes, reinforcing its capacity to catalyse economic integration and regional growth.

APPENDIX I: ADDITIONAL QUOTES FOR MEDIA

Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, CEO of MIDA - The JS-SEZ represents a transformative opportunity to catalyse investment flows between Malaysia and Singapore. Our role is to ensure this special economic zone becomes a magnet for global investors, creating high-value jobs and driving technological advancement. The level of interest we're seeing from both foreign and domestic investors already validates the strategic importance of this initiative. What's particularly exciting is how this zone will serve as a blueprint for future cross-border collaboration in ASEAN. We're not just creating an economic corridor; we're establishing an ecosystem where innovation, sustainability, and digital transformation converge. MIDA is committed to providing end-to-end facilitation to ensure investors can optimise the unique advantages this special economic zone offers.”

Dato' Haji Mohd. Noorazam Dato' Haji Osman - CEO of the Iskandar Regional Development Authority (IRDA) - “As a catalyst for Johor’s growth and strategic partner in the JohorSingapore Special Economic Zone (JS-SEZ), IRDA is committed to building a future-ready investment ecosystem. We support resilient, agile supply chains and empower SMEs through facilitation, knowledge transfer, and ecosystem development. The JS-SEZ enables seamless movement of goods, people, and services between Malaysia and Singapore, positioning Johor as a connected, competitive gateway to ASEAN. This cross-border collaboration drives inclusive, innovation-led growth for communities on both sides of the Causeway and across the region.”

Tuan Haji Natazha Bin Hariss, CEO of Invest Johor - “Invest Johor is committed to delivering coordinated, fast-track facilitation to ensure investment success within the Johor-Singapore Special Economic Zone (JS-SEZ). Through our collaboration with state agencies and the Invest Malaysia Facilitation Centre Johor (IMFC-J) — including initiatives like the Johor Super Lane — we are committed to ensure a more seamless investor’s journey here.”

Mr. Darren Oh, GM of Southeast Asia, Insulet - “Johor has been an excellent choice for Insulet, providing a strong foundation for our manufacturing and global expansion. Clear and transparent guidelines and procedures have ensured a smooth regulatory process, fostering a thriving ecosystem for medical device production. It has made a difference for us — enhancing logistics efficiency and creating new opportunities for healthcare innovation in the region. From our Johor facility within the thriving Johor-Singapore SEZ, we are able to supply our proprietary Omnipod®️ Automated Insulin Delivery Systems to our rapidly growing customer base across the U.S., Europe, and beyond, improving the lives of people with diabetes worldwide.”

Dr. Melvin Heng, Group CEO, Thomson Medical Group - ““JS-SEZ brings together a compelling combination of skilled labour, well-developed physical and digital connectivity, ample land, and access to services from both Malaysia and Singapore. Partners with a longterm strategic view will benefit from the close collaboration of industry and policymakers. This is a very exciting growth story for both nations in the coming decade. Thomson Medical Group is proud to be part of this dynamic, new economic corridor linking Johor and Singapore, and capitalise on our first-mover advantage.”

Mr. Thiaghu Selvaraj, Plant Manager, Hershey Malaysia - “Johor has been an excellent base for Hershey, offering a strong manufacturing ecosystem and strategic access to key markets. The support from MITI and MIDA has been instrumental in helping us expand, including the establishment of our R&D center here. This facility plays a crucial role in driving product innovation tailored for the region and beyond. We see even greater potential to strengthen our supply chain and accelerate growth, especially by being located within the strategic JSSEZ. Our investments not only enhance our production capabilities but also create jobs, support local suppliers, and contribute to the broader economy. We’re excited about the future and committed to deepening our presence in Malaysia.”