Johor-Singapore SEZ draws RM126.9b in FDI — Johor CM

KUALA LUMPUR (Aug 23): The Johor-Singapore Special Economic Zone (JS-SEZ) has attracted RM126.9 billion (S$40 billion) in foreign direct investment since its formal establishment, according to Johor Menteri Besar Datuk Onn Hafiz Ghazi. This milestone was highlighted during a dialogue session where Maybank and the Singapore Manufacturing Federation (SMF) signed a Memorandum of Understanding (MOU) to enhance manufacturers' access to the zone and strengthen its role in ASEAN. The MOU, supported by the Malaysian Investment Development Authority, aims to expedite investment approvals, streamline goods and people movement, and foster higher-value industries. SMF’s network of over 5,000 manufacturers and vendor partners will gain access to Maybank’s regional banking services, including sustainability-focused finance, trade finance, and cross-border funding. Maybank has already facilitated RM22 billion (S$6.9 billion) in financing tied to the JS-SEZ, covering digital infrastructure, manufacturing, and SMEs. SMF president Lennon Tan emphasized that manufacturing constitutes over 17% of Singapore’s GDP, supporting half a million jobs. He noted that companies can adopt a ‘twinning model’—keeping headquarters in Singapore while setting up production in Malaysia’s resource-rich ecosystem. SMF has engaged over 700 businesses interested in expanding operations in the JS-SEZ. Maybank CEO Alvin Lee highlighted the JS-SEZ’s strategic advantages: proximity, political/economic stability, and alignment with Singapore’s Manufacturing 2030 vision. The partnership supports Maybank’s ROAR30 strategy, targeting RM300 billion in sustainable finance, RM100 billion for new-economy sectors, and RM100 billion for SMEs across ASEAN.