00:00 The development of the Johor-Singapore Special Economic Zone development has begun.
00:06 Today Malaysia and Singapore signed a Memorandum of Understanding
00:09 to develop the SEZ adjacent to the Singapore border.
00:13 The SEZ aims to strengthen business ties and connectivity between the two nations.
00:17 Prime Minister Anwar Ibrahim and his Singapore counterpart Lee Hsien Loong
00:20 witnessed the signing of the MOU by Economic Minister Rafizieh Ramli
00:24 and Singaporean Trade and Industry Minister Gan Kim Yong.
00:27 The SEZ was first proposed by Rafizieh following a meeting
00:30 with the Johor State Government in Iskandar Puteri last May.
00:34 Two months later, both countries agreed to form a special task force
00:38 to explore its establishment.
00:41 The SEZ is also expected to improve the business ecosystems
00:45 of both the Iskandar Malaysia region and Singapore,
00:48 targeting sectors such as electronics, financial services,
00:51 business-related services and healthcare.
00:53 For more information, visit www.fmt.gov.au
00:57 Sam Usha, FMT News.
00:59 (dramatic music)
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