Johor-Singapore SEZ to include Iskandar Puteri, Pengerang, says MB

 

The Johor-Singapore special economic zone is expected to improve the business ecosystems of both the Iskandar Malaysia region and the island republic. (AP pic)

PETALING JAYA: The new Johor-Singapore special economic zone (JS-SEZ) is expected to be developed in Iskandar Puteri and Pengerang and involve an area of 3,505 sq km, says Johor menteri besar Onn Hafiz Ghazi.

He said the JS-SEZ will involve a total of five local councils in the state, namely Johor Bahru, Iskandar Puteri, Pasir Gudang, Kulai and Kota Tinggi, Berita Harian reported.

Onn Hafiz said this in response to a question by Pulai Sebatang assemblyman Hasrunizah Hassan during the state assembly sitting in Kota Iskandar today.

The JS–SEZ joint agreement between Malaysia and Singapore, which is expected to be inked by the end of this year, will detail the cooperation agreed upon by both countries for the project’s development, including the sectors to be focussed on, the locations, and incentives to be offered.

Onn Hafiz, who is Machap assemblyman, was previously reported to have said the JS-SEZ is expected to create up to 100,000 high-paying jobs in the state.

The JS-SEZ is also expected to improve the business ecosystems of both the Iskandar Malaysia region and Singapore, especially in the electronics, financial services, healthcare and business-related sectors.

Property price speculation

Meanwhile, Onn Hafiz also said the Johor government was considering implementing policies to curb property price speculation associated with the establishment of the JS-SEZ, Bernama reported.

He said he was aware of concerns by various stakeholders, including the state’s residents and external investors, about high property prices amid ongoing plans for the special economic zone.

Onn Hafiz noted that property price speculation has led to significant increases in land and residential prices in several areas, necessitating government scrutiny and control.

“Johor requires new policies to curb the escalating property price speculation. There may be certain premiums that can be introduced,” he said in the state assembly sitting.

“The Johor government will also discuss the construction of more affordable homes in the JS-SEZ areas with the housing and local government ministry.”

He emphasised the state government’s commitment to preventing hikes in property prices that would burden Johor residents and make it difficult for them to buy property in the state. -FMT