00:00Malaysia and Singapore announced an agreement on a special economic zone in Johor on Tuesday,
00:06aiming to boost investment and ease the movement of goods and people between the countries,
00:10Reuters reported. The two nations initially agreed in principle to develop the SEZ a year ago.
00:16Tuesday's agreement was announced during Singapore Prime Minister Lawrence Wong's visit to Malaysia.
00:22Prime Minister Anwar Ibrahim described the SEZ as a unique initiative
00:26as it is rare for two countries to collaborate on a single project.
00:30The two countries will focus on attracting high-value investments in manufacturing,
00:35logistics, tourism and energy transition, Economy Minister Rafizieh Ramli told reporters.
00:41They are targeting 50 projects within the economic zone in the first five years of its inception
00:46and the creation of 20,000 skilled jobs. Rafizieh added that Malaysia will establish
00:51an infrastructure fund to support companies in the SEZ,
00:54while Singapore will create a fund to assist its firms operating in Johor.
01:00Dhanushwaja Reza, FNP News.
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