Singapore Firms Commit $4.2 Billion to Malaysia’s Johor Ecozone
The creation of the economic zone has turned Johor into Malaysia’s top investment destination in the first half of the year.
Photographer: Samsul Said/BloombergSingapore companies have committed to invest S$5.5 billion ($4.23 billion) in a joint special economic zone in Malaysia’s Johor state since January last year, Singapore Deputy Prime Minister Gan Kim Yong said.
The special economic zone, which was first agreed in January last year and formally inked a year later, has made good headway and will help the creation of a business community that can compete effective in a changing global economy, Gan said during the joint investment forum on the special economic zone in Singapore on Tuesday.