Kuala Lumpur (VNA)🐓 – Malaysia and Singapore on January 7 inked an agreement to create a new special economic zone for business and investment.
Singaporean Prime Minister Lawrence Wong and Malaysian Prime Minister Anwar Ibrahim witnessed the exchange of the agreement for the Johor-Singapore Special Economic Zone (JS-SEZ) at the 11th Malaysia-Singapore Leaders’ Retreat in Putrajaya, Malaysia.
Anwar said that both nations are governed by politically stable administrations with clear economic policies aimed at attracting investments. Both governments are also selective in ensuring that investments align with future demands and priorities.
The two government’s sound economic orientations, including efforts to develop modern infrastructure and financial incentives, are major motives to draw the participation of enterprises.
Wong, for his part, said the initiative provides a message for investors to look at the complementarities between Johor and Singapore and many advantages in the entire JS-SEZ ecosystem.
He stressed that there are many strengths that can be harnessed from both sides that will enhance its value proposition and make JS-SEZ much more competitive and attractive for businesses to operate from. On the Singapore side, businesses can tap into existing incentives, market readiness programmes, and grants in order to expand and operate in Johor that are synergised with their operations in Singapore.
The zone is expected to not only bolster two-way trade but also attract more global investments that bring benefits to the two countries’ people.
Earlier, the two leaders witnessed the exchange of several Memoranda of Understanding on cooperation across the areas of carbon capture and storage, urban development, social welfare, and higher education, among others./.
The renewable energy industry will be one of the main focuses in the Johor-Singapore Special Economic Zone (JS-SEZ) development, bringing significantly benefit to both countries.
Malaysia and Singapore have discussed various issues relevant to the environment and sustainability and agreed to exchange information on air and water resource quality improvement.
Indonesia hosted the Trilateral Technical Experts Group (TTEG) meeting on the safety of navigation in the Straits of Malacca and Singapore from October 23-24.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
The facility was established in response to a growing shift in the Filipino labour force from the Middle East to Japan, where workers are seeking safer working environments.
In the latest Indonesia-US trade agreement in July, the US administration agreed to reduce the reciprocal tariff, which was initially set at 32% by US President Donald Trump last April, to 19%.
Real estate agency ERA Singapore estimated that there are 2,703 condo developments in Singapore today, of which 836 or 31% are at least 30 years old. In 10 years, this number is expected to climb to 1,160, assuming none is sold en bloc.
The new framework is designed to ensure that incoming investments deliver tangible national benefits, such as the creation of high-quality jobs for Malaysians and the development of local company ecosystems and technologies.
Singapore led with a total of 8.8 billion USD in realised investment, followed by Hong Kong and mainland China, Malaysia, and Japan with 8 billion USD, 1.7 billion USD and 1.6 billion USD, respectively.
Thai Acting Prime Minister Phumtham Wechayachai on August 7 outlined his strategy for tackling drug problems in Thailand, aiming for a "Zero Drugs Thailand" within three months.
