JS-SEZ: ASEAN’s Next Investment Powerhouse

AWANI

Don't miss the panel discussion titled JS-SEZ: ASEAN’s Next Investment Powerhouse, moderated by Mr. Suhaimi Ilias, Group Chief Economist at Maybank Investment Banking Group. This session brings together top leaders to discuss the future of the Johor-Singapore Special Economic Zone (JS-SEZ).

Transcript

00:00:00Once again, Mr. Suhaimi, the floor is all yours.

00:00:03Thank you. Good morning and Assalamualaikum to everyone.

00:00:09I think here in Malaysia, we're still in Raya mood, but rest assured, work remains.

00:00:16And I think obviously, first and foremost, welcome to this Johor-Singapore Special Economic Zone Joint Business and Investment Forum.

00:00:30And the first panel discussion, we'll discuss about JSSEZ as ASEAN's next investment powerhouse.

00:00:40And we certainly have the right set of panelists for this session coming from policymaking and policy execution side,

00:00:51as well as industry and business representatives.

00:00:54So, allow me to spend a bit of time to properly introduce our panelists.

00:01:02Immediately to my left is Yang Berbahagia Datuk, Sheikh Samsul Ibrahim, Sheikh Abdul Majid.

00:01:10Yang Berbahagia Datuk is the Chief Executive Officer of Malaysian Investment Development Authority of Maida.

00:01:17His career with Maida began in August 1996.

00:01:22And over the decade, Yang Berbahagia Datuk has held key positions in Maida,

00:01:28including as Executive Director for Manufacturing Development and Investment Promotion,

00:01:34and a Senior Executive Director of Investment Policy Advocacy.

00:01:38And under his leadership, divisions focusing on electronics, machinery and metal, transportation and building technologies have seen unprecedented growth and innovation.

00:01:51Datuk also, I believe, had stints overseas, in United States, in Japan and Singapore.

00:01:55Next to Datuk is Mr. Jermaine Loy.

00:02:02He was appointed as Managing Director of Singapore's Economic Development Board, EDB, on 1st March 2025.

00:02:10So, congratulations on your appointment, first and foremost.

00:02:17Jermaine also chairs the Design Singapore Advisory Board and also serves on the boards of EDBI.

00:02:25and the Maritime and Port Authority of Singapore.

00:02:28And before joining EDB, Jermaine served in the Prime Minister's Office between April 2021 and December 2024

00:02:37as the Principal Private Secretary to the then Prime Minister and current Senior Minister, Mr. Lee Hsien Leung.

00:02:44And prior to that, he has worked on various portfolios across Singapore's public service,

00:02:51including the Ministry of National Development, the Ministry of Health, as well as the Ministry of Trade and Industry.

00:02:59We also have with us this morning Mr. Jacob Lee.

00:03:03He is the Vice President of the Federation of Malaysian Manufacturers, FMM.

00:03:09Jacob champions industry growth, digital adoption and export competitiveness.

00:03:14He also serves as chairman of the Business Advisory Group of Malaysia-Taiwan Trade and Investment

00:03:22under the Ministry of Investment, Trade and Industry,

00:03:27strengthening cross-border business ecosystem and SME development.

00:03:31Jacob is also the board member of the Malaysia Productivity Corporation

00:03:37and the Malaysian Standards Development Authority for Mechanical and Electrical.

00:03:42He is also an entrepreneur, being the founder of ASLI Mechanicals in the Amber Hat,

00:03:49as well as Tiger IoT Private Limited.

00:03:53Last but not least, Mr. Kok Ping Sun,

00:03:56Chief Executive Officer of the Singapore Business Federation, SBF,

00:04:00that represents Singapore's business community and trade, investment and industrial relations.

00:04:07Prior to his current appointment, Ping Sun was Chief Executive of the Government Technology Agency of Singapore,

00:04:15GovTech, a leading agency driving Singapore's Smart Nation initiative

00:04:20and public sector digital transformation.

00:04:24He also held various positions in the Ministry of Manpower,

00:04:27National Security Coordination Secretariat,

00:04:31Ministry of Trade and Industry, Singapore Tourism Board,

00:04:34Contact Singapore and EDB.

00:04:37He also served on the board of SBF Holdings, SBF Connect,

00:04:42Singapore Business Federation Foundation,

00:04:44Accounting and Corporate Regulatory Authority,

00:04:47Global Compact Network Singapore,

00:04:50Singapore Poles and the Intellectual Property Office of Singapore.

00:04:54Ping Sun is also a member of Singapore International Arbitration Centre,

00:04:59Singapore International Mediation Centre,

00:05:01NUS Institute of Systems Sciences,

00:05:04National Integration Council and a fellow member of Singapore Computer Society.

00:05:09A very busy man indeed,

00:05:11but I'm sure all the panellists are very busy

00:05:13and I'm very thankful for them to be with us this morning.

00:05:17Now, I want to start the session not by peppering our panellists with questions.

00:05:22In fact, what I want to do for the first 10 to 15 minutes of this session,

00:05:27maybe an average of three minutes each of you,

00:05:30for you to make a pitch,

00:05:33especially business and investors,

00:05:35about JSSEZ.

00:05:37Maybe start with Dato first.

00:05:40Thank you,

00:05:42M. Swamy, for the kind introduction.

00:05:44Well, to me,

00:05:47Johor SSEZ is timely and significant.

00:05:50You know why?

00:05:51Because of a few factors.

00:05:53One is about ASEAN as the economic powerhouse

00:05:56and all the numbers that,

00:05:59you know,

00:06:00done,

00:06:01I mean,

00:06:01research done by many of these reputable organisations,

00:06:06research houses,

00:06:07showing that ASEAN is the next,

00:06:11what do you call that,

00:06:14growth area,

00:06:15right?

00:06:16You looked at the numbers of ASEAN population,

00:06:19it will be about 690 to 700 million people by 2030.

00:06:25Investment is about 170 billion annually

00:06:30and it's steady.

00:06:32And you looked at all the companies,

00:06:36foreign companies that have been establishing in ASEAN.

00:06:40I think those that have regional headquarters here

00:06:42is about more than 5,000.

00:06:45You're talking about ASEAN as a whole, right?

00:06:47And 80% of these Fortune 500 companies

00:06:53are having their affiliation in ASEAN.

00:06:55So if you looked at the ASEAN as a market,

00:07:01it's very promising,

00:07:0270%.

00:07:03Some study shows that 70% of the population

00:07:08will be in the middle income class.

00:07:13So this is a natural choice for,

00:07:16this area is a natural choice for investors

00:07:18to consider doing business in JSSEZ, right?

00:07:24Because then you have all the market access in ASEAN.

00:07:30So the other thing is that

00:07:32this JSSEZ is not a new area.

00:07:35It has been there, you know,

00:07:38with all the collectivities, for example.

00:07:41Of course, we need to improve those

00:07:44collectivity angle

00:07:46where Singapore and Malaysia

00:07:49work very hard

00:07:50to ensure that movement of people,

00:07:54movement of goods,

00:07:56you know,

00:07:56will be seamless.

00:07:58I think it's at the end of the discussion

00:08:01for us to have this movement of people and goods,

00:08:05talking about QR code clearance, for example,

00:08:08without, you know,

00:08:09having to produce your passports

00:08:12and so on and so forth.

00:08:13And customs from both sides

00:08:15are actually been discussing

00:08:18to ensure that movement of goods

00:08:21seamless as well.

00:08:24And this Johor, Singapore,

00:08:27SISSEC area

00:08:28is targeting

00:08:29this high-value, high-growth sector

00:08:33because I think

00:08:34we are, you know,

00:08:36these areas are different

00:08:37from the other areas

00:08:39in the region, for example.

00:08:43And we see that Johor SISSEC

00:08:45is a place where you can attract more

00:08:47high-value and high-growth sectors.

00:08:50For example,

00:08:51last year,

00:08:53we have approved about

00:08:54700 over projects

00:08:55and most of them are manufacturing.

00:08:57And out of those in Johor,

00:08:59out of those 700 over projects,

00:09:03about 550 or 560 projects

00:09:06are actually located in Johor SISSEC.

00:09:09It shows the attraction of Johor SISSEC

00:09:11to what you call host

00:09:14these high-value,

00:09:16high-growth sectors.

00:09:18So what we want

00:09:20is to move up the value chain

00:09:22within the existing industry cluster

00:09:25and also to create new cluster

00:09:26for Johor SISSEC.

00:09:28We have got good

00:09:30medical devices companies,

00:09:32you know,

00:09:32semiconductor companies

00:09:33in this area.

00:09:34So we think that

00:09:35we can pull through

00:09:37some of these

00:09:39high-value and high-growth

00:09:40projects,

00:09:42you know,

00:09:43in this region.

00:09:44Moving on,

00:09:45and I think

00:09:45last year alone,

00:09:47I think we have achieved

00:09:49about 50 over

00:09:50projects in high-value

00:09:52and high-growth sectors.

00:09:53Of course,

00:09:56the other portion

00:09:57is the strong

00:09:58institutional policy

00:10:00and institutional support

00:10:02for this area.

00:10:05The incentives are tailor-made,

00:10:07you know,

00:10:07to attract these high-value

00:10:09and high-growth sectors

00:10:10into the country.

00:10:11I mean,

00:10:12into Johor,

00:10:14what we call Singapore

00:10:15SISSEC.

00:10:17And of course,

00:10:18the facilitation part

00:10:19is equally important

00:10:20where once

00:10:22it got approved,

00:10:23we want to ensure

00:10:24that all these projects

00:10:25are implemented.

00:10:26And implementation rate

00:10:28in 2023,

00:10:29for example,

00:10:30we have achieved

00:10:30in Johor SISSEC,

00:10:32we have achieved

00:10:33more than 80%.

00:10:34So to us,

00:10:38it's very high,

00:10:39right,

00:10:39as far as

00:10:40implementation rate

00:10:42of these projects.

00:10:43And you are also aware

00:10:46that we have just established,

00:10:48and in fact,

00:10:49you just launched

00:10:49this IMFCJ.

00:10:52The idea is

00:10:54for this office

00:10:55with the presence

00:10:57of MIDA,

00:11:00IRDA,

00:11:01Invest Johor,

00:11:01and a few other agencies

00:11:03that are very important

00:11:05to ensure

00:11:06that all these projects,

00:11:08you know,

00:11:08be it for them

00:11:10to come for approvals,

00:11:11for permits,

00:11:13and on daily operations

00:11:15that they are having

00:11:16issues and whatnot

00:11:18can be,

00:11:19what we call,

00:11:20resolved amicably.

00:11:21So these are

00:11:22actually,

00:11:24you know,

00:11:24facilitation that

00:11:25will drive

00:11:26more investment

00:11:28into Johor SISSEC.

00:11:30So I stop

00:11:31at this point first,

00:11:33then,

00:11:33you know,

00:11:34later maybe

00:11:34Q&A or,

00:11:36you know,

00:11:36we can continue

00:11:37with the rest.

00:11:39Thank you,

00:11:39Rathal.

00:11:40Jermaine.

00:11:43First,

00:11:44a very good morning

00:11:45to Excellencies,

00:11:46distinguished guests,

00:11:47and to Mrs. Suhaimi,

00:11:48thank you very much

00:11:48for a very kind introduction.

00:11:50From Singapore EDB's

00:11:52perspective,

00:11:53we are very excited

00:11:54by these opportunities

00:11:55presented by

00:11:56the Johor Singapore

00:11:57Special Economic Zone.

00:11:59As was spoken about,

00:12:00Southeast Asia

00:12:01is a region

00:12:02of immense growth potential,

00:12:04rapidly expanding

00:12:06middle class,

00:12:07increasing industrialization,

00:12:09growing digitalization.

00:12:12And so Singapore

00:12:13and Malaysia

00:12:13are at the heart

00:12:14of this very vibrant region.

00:12:16And so we see

00:12:17great opportunities

00:12:18for businesses,

00:12:20for investors,

00:12:21for individuals.

00:12:23And from Malaysia

00:12:25and Singapore,

00:12:25it's a longstanding partnership

00:12:27with our economies

00:12:28closely linked

00:12:29and intertwined.

00:12:31And we recognize

00:12:32this potential

00:12:33to leverage

00:12:34on our complementary strengths,

00:12:36for instance,

00:12:37on Singapore's infrastructure

00:12:38or financial systems,

00:12:40but Johor's strategic location,

00:12:42resources,

00:12:43and grow industrial base.

00:12:44It's a powerful synergy

00:12:45that we see

00:12:46and we think

00:12:47it benefits both countries.

00:12:50And in fact,

00:12:51the Johor Singapore SEZ,

00:12:54we see it as a win-win,

00:12:56win-win.

00:12:57A win for Malaysia

00:12:58in terms of new economic growth

00:13:00here in Johor.

00:13:02It's a win for Singapore,

00:13:03enhancing our economic competitiveness.

00:13:06It's a win for businesses

00:13:08looking at the growth opportunities,

00:13:10seamless, efficient,

00:13:12cross-border operations

00:13:13and integrated regional strategy.

00:13:15It's also a win

00:13:16for the region

00:13:17here in Southeast Asia

00:13:18in terms of fostering

00:13:20economic integration

00:13:21and cooperation.

00:13:23So really very much

00:13:24a win-win, win-win.

00:13:26Now, we see this concept

00:13:29of this model of twinning

00:13:30in terms of economic development.

00:13:32It's not a new one.

00:13:34As has been mentioned,

00:13:35we've already seen

00:13:36many successful examples

00:13:37of companies

00:13:38setting up operations

00:13:40in both Singapore

00:13:40and also in Johor

00:13:42and leveraging the strengths

00:13:44of each location,

00:13:45tapping on the best

00:13:46that each has to offer.

00:13:48And as we move forward

00:13:49on the Johor Singapore SEZ,

00:13:52our goal must be

00:13:53to double down

00:13:54on these opportunities,

00:13:55make full use

00:13:56of this advantage

00:13:56that we have,

00:13:58attract new global investors,

00:14:00you know,

00:14:01particularly in areas

00:14:02like the manufacturing,

00:14:03in terms of supply chain,

00:14:04logistics,

00:14:05digital economy,

00:14:05and more,

00:14:06and to tap on this

00:14:08to bring better opportunities

00:14:09for Malaysia,

00:14:10for Singapore,

00:14:11and also for the region.

00:14:13So I'll pause there for now.

00:14:14Thanks, Jermaine.

00:14:16Jacob,

00:14:17what's your pitch

00:14:18from the perspective

00:14:19of, you know,

00:14:20an entrepreneur yourself

00:14:21and, you know,

00:14:22coming from a body

00:14:24that represents

00:14:25Malaysian industry?

00:14:26Thank you, Jermaine.

00:14:27Good morning,

00:14:28ladies and gentlemen.

00:14:30I see YB Liu Jingdong here.

00:14:32Immediately reminds me

00:14:33a gift that he gave to me.

00:14:35His book,

00:14:36The Second Takeoff.

00:14:38Okay?

00:14:39And in his book,

00:14:39he says,

00:14:40the second takeoff

00:14:41for Malaysia

00:14:42will happen

00:14:43in Johor.

00:14:45Okay?

00:14:45So,

00:14:46we're very excited,

00:14:48like other panelists,

00:14:50that

00:14:50this Johor Singapore

00:14:53special economy zone

00:14:55finally

00:14:55are being pushed out.

00:14:58Okay?

00:14:58I want to tell you

00:14:59a small story.

00:15:01In 2022,

00:15:03when the National Chambers

00:15:04of Commerce

00:15:05in Malaysia,

00:15:07led by our former president,

00:15:09Dan Sri Soteng Lai,

00:15:11we pay a

00:15:13courtesy visit

00:15:14to Singapore MTI.

00:15:17We met

00:15:17the minister then.

00:15:19Okay?

00:15:20In fact,

00:15:20FMM

00:15:21has proposed

00:15:22to her

00:15:24to set up

00:15:25to set up

00:15:25a special

00:15:26economic

00:15:27or special

00:15:28industry zone

00:15:28between

00:15:30Singapore

00:15:32and Johor.

00:15:34So,

00:15:35and we are glad

00:15:36that our proposal

00:15:37also met

00:15:38with

00:15:39the

00:15:40same mindset

00:15:42of our leaders.

00:15:43and we are very happy

00:15:45and we are very happy

00:15:45and want to congratulate

00:15:46the Malaysian government,

00:15:48especially the,

00:15:48in particular,

00:15:50the Johor State government

00:15:51for realizing,

00:15:54for pushing out

00:15:55this special economic

00:15:56zone.

00:15:58This is a well-designed

00:16:00and strategic

00:16:02strategic

00:16:03industry

00:16:05zone

00:16:05or business

00:16:07zone.

00:16:08We believe

00:16:09that it will

00:16:10be a game

00:16:11changer

00:16:12for the

00:16:13transformations

00:16:14of the Malaysian,

00:16:15especially

00:16:16the manufacturing

00:16:17industry.

00:16:19And we do hope

00:16:20that

00:16:20with more

00:16:22multinational

00:16:23corporations

00:16:24coming in,

00:16:25the big boys,

00:16:26they will bring

00:16:27about

00:16:28the further

00:16:29development

00:16:31and transformations

00:16:32of our SMEs

00:16:34in Malaysia.

00:16:35We,

00:16:35Malaysia,

00:16:37we have like

00:16:3798%

00:16:38of our corporations

00:16:39are SMEs

00:16:40or MSMEs.

00:16:42And we want

00:16:43to believe

00:16:45that there is

00:16:45a lot of imagination

00:16:46that we can do

00:16:48with our SMEs.

00:16:50We hope

00:16:51that

00:16:51with the big boys

00:16:53here,

00:16:54anchor in Johor,

00:16:56we will bring

00:16:56about a cluster

00:16:57formation

00:16:58and bring

00:16:59about

00:17:00the

00:17:01vendor

00:17:03development,

00:17:05putting more

00:17:07resources

00:17:07into research

00:17:09and development.

00:17:10As what

00:17:11WebE-Liu

00:17:12has mentioned,

00:17:13not just

00:17:13made by Malaysia,

00:17:15it's made

00:17:17by Malaysians

00:17:18and designed

00:17:19by Malaysians.

00:17:21So we hope

00:17:21this will bring

00:17:23about

00:17:23a great

00:17:24change.

00:17:25And we also

00:17:26wish to propose

00:17:27bringing back

00:17:29the revival

00:17:30of this

00:17:31regional distribution

00:17:32centre

00:17:32in Malaysia

00:17:34and also

00:17:35the international

00:17:36procurement

00:17:37centre scheme.

00:17:38This will allow

00:17:39companies to

00:17:40pool their

00:17:41resources,

00:17:43strengthen

00:17:43the QC

00:17:45and making

00:17:46and making

00:17:46Malaysia

00:17:46the distribution

00:17:49hub for the

00:17:50supply chain.

00:17:52With that,

00:17:54FMM is also

00:17:55proposing to

00:17:56MITI to set up

00:17:58a national

00:17:59supply chain

00:18:00council

00:18:00and being the

00:18:02chair of ASEAN

00:18:03this year,

00:18:03Malaysia,

00:18:04we also wish to

00:18:06propose the

00:18:06formations

00:18:07of the

00:18:08ASEAN

00:18:09integrated

00:18:10supply chain

00:18:11network

00:18:13for ASEAN.

00:18:17Further to

00:18:18that,

00:18:19with the

00:18:19post-COVID-19

00:18:21incidents,

00:18:24our experience

00:18:24know that

00:18:25food security

00:18:26becomes a

00:18:28national security

00:18:29issue,

00:18:30becomes a

00:18:30great

00:18:30importance

00:18:33for the

00:18:34stability

00:18:35and also

00:18:37the

00:18:37security

00:18:38of the

00:18:38nation,

00:18:38we also

00:18:39wish to

00:18:39suggest

00:18:40that

00:18:40an

00:18:41agro-processing

00:18:43and

00:18:43coaching

00:18:44network

00:18:44to be

00:18:45in place

00:18:46not just

00:18:48in

00:18:49Zohor

00:18:49but also

00:18:50in other

00:18:50states

00:18:50of

00:18:51Malaysia.

00:18:52So

00:18:53this is

00:18:53some of

00:18:56the

00:18:56recommendations

00:18:56from the

00:18:57Federation

00:18:58of

00:18:58Malaysia

00:18:58Manufacturing.

00:19:00Thanks,

00:19:00Jacob.

00:19:01Pingsun,

00:19:02would like to

00:19:02hear your

00:19:03perspective.

00:19:03Thanks,

00:19:04Zohai Mi.

00:19:05Thank you,

00:19:05Zohai Mi,

00:19:06and good

00:19:06morning,

00:19:06Excellencies

00:19:07and ladies

00:19:07and gentlemen.

00:19:08Delighted to

00:19:09join you

00:19:09this morning.

00:19:10I think

00:19:10most of

00:19:11my

00:19:11panellists

00:19:11have

00:19:11shared

00:19:12a sense

00:19:12of

00:19:13excitement

00:19:13and

00:19:13optimism.

00:19:15Of course,

00:19:15from

00:19:15Singapore

00:19:15Business

00:19:16Federation,

00:19:16we are

00:19:17equally

00:19:17excited

00:19:18and

00:19:18optimistic,

00:19:19but I

00:19:19do

00:19:19want to

00:19:20share

00:19:20sentiments

00:19:21that

00:19:21the

00:19:22optimism

00:19:23is

00:19:23of

00:19:23course

00:19:23pampered

00:19:25with a

00:19:25little

00:19:25bit

00:19:26of

00:19:26cautiousness.

00:19:27And

00:19:28I'll

00:19:28be

00:19:28candid

00:19:28to

00:19:29say

00:19:29that

00:19:29as

00:19:29Minister

00:19:30has

00:19:30said

00:19:30this

00:19:30is

00:19:31the

00:19:31third

00:19:31time

00:19:31of

00:19:32economic

00:19:33integration.

00:19:34So the

00:19:34question

00:19:34is whether

00:19:34will

00:19:35third

00:19:35time

00:19:35be

00:19:35the

00:19:35charm.

00:19:36I

00:19:36think

00:19:36we

00:19:37certainly

00:19:37hope

00:19:37that

00:19:37to

00:19:38be

00:19:38the

00:19:38case.

00:19:39Because

00:19:39I

00:19:39think

00:19:40if

00:19:40you

00:19:40take

00:19:40a

00:19:40step

00:19:40back

00:19:40and

00:19:41you

00:19:41look

00:19:41at

00:19:41the

00:19:41economic

00:19:43imperative

00:19:43it's

00:19:44a

00:19:44no-brainer.

00:19:45We

00:19:45talk

00:19:45about

00:19:46the

00:19:46land

00:19:46area

00:19:47that

00:19:47we

00:19:47have

00:19:48five

00:19:48times

00:19:49the

00:19:49size

00:19:49of

00:19:49Singapore.

00:19:50So

00:19:50the

00:19:51potential

00:19:51JSSEZ

00:19:52to

00:19:52help

00:19:52our

00:19:53Singapore

00:19:53businesses

00:19:54to

00:19:54overcome

00:19:55the

00:19:55three

00:19:56inherent

00:19:56constraints

00:19:57that

00:19:57we

00:19:57have

00:19:57operating

00:19:57in

00:19:58Singapore.

00:19:59Land,

00:19:59manpower,

00:20:00and

00:20:00energy.

00:20:01These

00:20:02are the

00:20:02three

00:20:02constraints

00:20:03that's

00:20:03limiting

00:20:03Singapore

00:20:04businesses'

00:20:04growth.

00:20:05So

00:20:05obviously

00:20:05the

00:20:06benefits

00:20:06are

00:20:06very

00:20:06clear.

00:20:07In

00:20:08our

00:20:08conversation

00:20:08with

00:20:08businesses,

00:20:09we

00:20:10led

00:20:10a

00:20:10business

00:20:10delegation

00:20:11here,

00:20:11about

00:20:11200

00:20:11companies

00:20:12in

00:20:12January,

00:20:13February.

00:20:13We

00:20:13have

00:20:13been

00:20:13actively

00:20:14following

00:20:14up

00:20:14with

00:20:14them.

00:20:15There

00:20:15are

00:20:15three

00:20:15things

00:20:16that

00:20:16companies

00:20:17are

00:20:17increasingly

00:20:22in

00:20:23Singapore

00:20:23expanding

00:20:24are

00:20:24certainly

00:20:25seeing

00:20:25JSSEZ

00:20:26as a

00:20:27gateway

00:20:27to

00:20:27Malaysia.

00:20:28They

00:20:28can

00:20:28expand

00:20:29their

00:20:29operations,

00:20:30they

00:20:30can

00:20:30leverage

00:20:30on

00:20:30the

00:20:31resources

00:20:31in

00:20:32Johor,

00:20:32both

00:20:33in

00:20:33terms

00:20:33of

00:20:33land,

00:20:33skilled

00:20:33manpower,

00:20:34as well

00:20:35as a

00:20:35growing

00:20:35supporting

00:20:36industry,

00:20:36as has

00:20:37been

00:20:37said.

00:20:38But

00:20:38number

00:20:38two

00:20:38that's

00:20:39more

00:20:39exciting

00:20:39are

00:20:40companies

00:20:40that are

00:20:40increasingly

00:20:41looking

00:20:41for

00:20:42twinning

00:20:42opportunities.

00:20:43Now

00:20:43if

00:20:44the

00:20:44flow

00:20:44of

00:20:45people

00:20:45and

00:20:45goods,

00:20:46certainly

00:20:46if

00:20:47the

00:20:47flow

00:20:47of

00:20:47people

00:20:47on

00:20:48an

00:20:48everyday

00:20:49basis

00:20:49could

00:20:49be

00:20:49like

00:20:49our

00:20:50experience

00:20:50this

00:20:50morning,

00:20:51it would

00:20:51be

00:20:51fantastic.

00:20:52You

00:20:53can

00:20:53really

00:20:53have

00:20:53an

00:20:54integrated

00:20:54economic

00:20:54zone

00:20:55that

00:20:55can

00:20:55leverage

00:20:55on

00:20:56the

00:20:56best

00:20:56of

00:20:56both

00:20:56worlds.

00:20:57Singapore

00:20:57is

00:20:58both

00:20:58business

00:20:58hub,

00:20:59tech

00:20:59and

00:20:59financial

00:21:00hub,

00:21:00and

00:21:00leveraging

00:21:01on

00:21:01the

00:21:01resources

00:21:02and

00:21:02growing

00:21:02supporting

00:21:03industry

00:21:03in

00:21:03Malaysia.

00:21:04So

00:21:04twinning

00:21:04operations

00:21:05is

00:21:05very

00:21:05key.

00:21:06But

00:21:06the

00:21:07third

00:21:07thing

00:21:07that

00:21:08increasingly

00:21:08when

00:21:09we

00:21:09talk

00:21:09to

00:21:09companies

00:21:10now,

00:21:11especially

00:21:11as

00:21:11the

00:21:12minister

00:21:12has

00:21:12said,

00:21:13as

00:21:13companies

00:21:14look at

00:21:15moving

00:21:15from

00:21:15just

00:21:16in

00:21:16time

00:21:16to

00:21:16just

00:21:16in

00:21:17case,

00:21:17I

00:21:18think

00:21:18there

00:21:18is

00:21:18a

00:21:18potential

00:21:19not

00:21:19withstanding

00:21:19the

00:21:20global

00:21:20trade

00:21:20war

00:21:20for

00:21:21us

00:21:21to

00:21:22leverage

00:21:22on

00:21:22this

00:21:22opportunity

00:21:23to

00:21:24strengthen

00:21:24the

00:21:24Johor

00:21:25Singapore

00:21:25axis

00:21:26as

00:21:27an

00:21:27economic

00:21:27powerhouse

00:21:28in

00:21:28Southeast

00:21:28Asia.

00:21:29And

00:21:29I

00:21:29think

00:21:29that's

00:21:30the

00:21:30game.

00:21:32Investment

00:21:33in

00:21:33Johor

00:21:34Singapore

00:21:34is

00:21:34not

00:21:35a win

00:21:36just

00:21:36for

00:21:36Malaysia

00:21:37or

00:21:37Singapore

00:21:38but

00:21:38together.

00:21:39And

00:21:41complement

00:21:42each

00:21:42other

00:21:42through

00:21:42a

00:21:43twin

00:21:43operation

00:21:43that

00:21:44leverages

00:21:44on

00:21:44both

00:21:44the

00:21:45stronger

00:21:45we

00:21:45can

00:21:46be

00:21:46as

00:21:46an

00:21:46economic

00:21:46powerhouse

00:21:47with

00:21:48this

00:21:48Singapore

00:21:48and

00:21:48Johor

00:21:49economic

00:21:49axis.

00:21:50So I'll stop there for now and we can discuss more on how to make it happen.

00:21:53Thank you, gentlemen.

00:21:55So we've heard soundbites from our panelists in terms of their pitch, their thoughts,

00:22:00their perspective about JSSEZ.

00:22:04Maybe now is the time when I start asking questions.

00:22:07I guess given the topic of this panel session ultimately about how Johor

00:22:16Singapore's special economic zone can be ASEAN's next investment powerhouse, I guess

00:22:21naturally the sort of first lines of question would be focusing on the special

00:22:29economic zone as a platform, a strategic platform for investment growth and supply

00:22:34chain diversification or reordering or reconstruction if you can put it that way.

00:22:40I would like to ask Datuk maybe can elaborate a little bit more about how businesses in

00:22:47Malaysia and Singapore and for that matter from all over the world can leverage on JSSEZ

00:22:52and draw on the strength of both countries to tap into the broader opportunities of ASEAN.

00:23:02Well, as some of the panelists also mentioned, the strength of Singapore and strength of

00:23:10Malaysia in particular, Johor.

00:23:12If you looked at, for example, Singapore, they are very strong in logistic and as well as

00:23:19a country that is famously known for trading hub, right?

00:23:25And Johor is also very strong in manufacturing, advanced manufacturing angle.

00:23:32So, this combination of both actually will give a lot of opportunities for companies, right?

00:23:40To look at what they call Johor, Singapore as a place for them to do business and to explore

00:23:49market, ASEAN market as a whole.

00:23:54You see, one of the interesting points when we looked at the numbers and so on.

00:23:59Between 2005 to 2016, if you looked at intra-ASEAN, we are not just looking at investment from

00:24:11other countries, non-ASEAN countries, but within ASEAN for the last 10 years, it was negative.

00:24:21From 2016 to 2025, negative 2.3%.

00:24:28And compared with 2006 to 2015, it was 12.5%.

00:24:37So, if you looked at opportunities within ASEAN, as far as investment is concerned, it's huge,

00:24:44but it's going down to negative 2.3%.

00:24:49So, I would say that the opportunities not just for foreign companies from outside ASEAN,

00:24:56but within ASEAN as well, where, you know, you can, I mean, other ASEAN companies, be it

00:25:04Singapore, I believe many of those investments in Johor originated from Singapore as well, right?

00:25:12Be it Singapore homegrown companies or foreign companies that are established in Singapore.

00:25:21So, this area, I believe, is, what do you call that, can provide that, what do you call,

00:25:30opportunities in the region, and as I also mentioned earlier, the facilitation that we are providing

00:25:37is another key factor for us to, what I call, support all these foreign investments, right,

00:25:45in Johor SCZ, and as what Jacob mentioned earlier on, the role of local companies.

00:25:53This is another angle where we can provide to MNCs that are operating in JSSZ,

00:26:00local companies that can be supplier to all these, vendors to all these MNCs.

00:26:06In fact, tomorrow, we have about seven of them, six foreign companies, I think, mainly from the US.

00:26:15I'm not sure why, but I think all of us know perhaps one of the reasons, right, because of the US tariff hype.

00:26:25But one of them is actually local company.

00:26:29So, it's not just about foreign companies providing these, what do you call, opportunities to our local players,

00:26:37as vendors, as suppliers, but also the local companies.

00:26:42So, and Maida is doing whatever we can, you know, to support the local, what do you call players,

00:26:50to be in this, to be integrated with MNCs as suppliers and vendor development.

00:26:58We work closely with the chambers, for example, FMM or our national chambers to provide these opportunities.

00:27:09And obviously, you know, other than facilitation, incentive actually plays an important role.

00:27:18I think we thank Minister of Finance as well to be able to design tailor-made incentives for those companies.

00:27:30Thanks, Dato.

00:27:32Jermaine, from your perspective, where do you see the exciting emerging opportunities in JSS?

00:27:42I mean, beyond the usual narrative about, you know, Singapore's strength in certain aspects of services,

00:27:52like financial, logistics, trade, and Malaysia as a comparative advantage when it comes to manufacturing,

00:27:58I'm interested to know about your thoughts with regards to, I suppose, the future growth story,

00:28:06or the future economy, like digital, like green, where do you see this thing?

00:28:11And how is JSS is relevant in that sense?

00:28:18Thanks, Suhaimi.

00:28:20Well, maybe I'll just make a couple of points on that.

00:28:22But I thought I should still reiterate this whole fundamental concept,

00:28:27that the Johor-Singapore Special Economic Zone really is built on this idea of complementarity.

00:28:35I mean, I know you mentioned it, but it is really important to reinforce this point

00:28:39that it's really about leveraging the strengths of both Singapore and Johor.

00:28:42And it is with this partnership and the view that we can make this whole region more attractive,

00:28:50right, to not just global investors, but also internally within the region, right,

00:28:55and allow both Singapore and Johor to better compete and capture some of these new opportunities

00:29:01emerging from this region.

00:29:02And the main point is this, it is not a binary choice, right,

00:29:08it is not a binary choice of investing either in Singapore or in Johor,

00:29:12but it is about setting up the ecosystem and the frameworks and the environment

00:29:18so that companies can think about how to set up operations in each country,

00:29:23on each side, that best tap on the proximity and best tap on the country's relative strengths.

00:29:28I think that's important to reiterate fundamentally.

00:29:31I know we talked about how Singapore already plays a host to, you know,

00:29:35HQs, advanced manufacturing facilities, R&D of many global companies,

00:29:39and it is important that we think about how we can then facilitate and allow companies

00:29:43to also potentially explore setting up, you know, twinning facilities in Johor

00:29:50that complements these activities in Singapore.

00:29:52So that's the first point, right.

00:29:54The second is that on Singapore's end, you know,

00:29:58we are very keen and committed to working to what's mutually beneficial outcomes,

00:30:04and we're working very closely with the Malaysian government on this.

00:30:08Very ambitious targets as well.

00:30:10Joint targets of 50 projects in five years, 100 projects in 10.

00:30:16And across the 11 different priority sectors that I think the Malaysian government has identified.

00:30:21So, I mean, you talked about digital and green,

00:30:23and indeed, these are areas that I think Johor has done very well in.

00:30:27Just take, for example, in the digital economy,

00:30:30Johor's data center capacity has grown from 10 megawatts in 2021

00:30:35to over 1.5 gigawatts in 2024.

00:30:38We have key names such as GDS, Princeton Digital Group, Equinix,

00:30:42all setting up shop here, so the big boys.

00:30:44And we also see from our side opportunities to partner in the digital economy

00:30:49to integrate our digital systems and to facilitate business transactions.

00:30:54Sustainability is, of course, another important topic.

00:30:57So, I mean, you mentioned green.

00:30:59It's not just for Sit Johor and Singapore,

00:31:01but more importantly for broader region and also for the rest of the world.

00:31:05And there's much room for both our sides to work more closely,

00:31:08for instance, in areas like carbon credits cooperation,

00:31:11and also even in renewable energy trading.

00:31:14I think maybe more specific to your question,

00:31:18more directly, we see immediate opportunities.

00:31:20This has been mentioned in manufacturing and logistics and supply chain.

00:31:25The important point to note is this.

00:31:26We're not starting from zero base.

00:31:28I think that's very important.

00:31:29In fact, Singapore-Johor partnership is longstanding,

00:31:33and we have many companies that have demonstrated

00:31:35how a twinning model has helped them to get the best out of Singapore and in Johor.

00:31:40And this brings me to my third point.

00:31:41Maybe let me just outline three possible archetypes that we are thinking of.

00:31:47First is companies new to the region and considering a first landing point here in Southeast Asia.

00:31:54And this is where Singapore and Johor's complementary strengths

00:31:58is a very attractive proposition to such companies.

00:32:01I'll give you one example.

00:32:02This is the SPC Group.

00:32:03It's a Korean food and confectionery company.

00:32:06You might know them because they own Paris Baguette.

00:32:09They have their regional HQ in Singapore,

00:32:11which houses admin functions and also their regional innovation centres and central kitchen.

00:32:19But more importantly, Paris Baguette launched its Halal Food Hub right here in Johor,

00:32:24manufacturing its product meant for the Halal market across the whole of Southeast Asia

00:32:28and the Middle East markets.

00:32:30So that's the first archetype.

00:32:33The second are those companies with already an existing base in Singapore

00:32:38and looking to expand and leverage resources here in Johor to expand their operations.

00:32:43One example is IPEX.

00:32:44It's a Japanese manufacturer of precision components.

00:32:48It's this HQ and manufacturing facility in Singapore

00:32:51looking at precision modules for semiconductors, electronics and other automotive industries.

00:32:59Johor now hosts IPEX's largest manufacturing facility outside of Japan.

00:33:06Manufacturing electronics and automotive centres.

00:33:09And so that's the second example.

00:33:11And the third archetype, I think this has been mentioned as well,

00:33:14regional distribution centres.

00:33:16Companies looking to set up some of these regional distribution centres

00:33:20or to undertake supply chain management.

00:33:24DHL is a good example.

00:33:26Recently opened its first supply hub in Johor near Senai International Airport,

00:33:30which complements DHL's supply chain hub and warehouses in Singapore.

00:33:34So these are just three possible archetypes.

00:33:37These are just some examples.

00:33:39But all in all, these portends good and emerging opportunities

00:33:42that we see right here in the region

00:33:44and that we think we should make the most use of.

00:33:48Thanks, Jamin.

00:33:48I mean, it's very interesting examples that you give

00:33:51in terms of the opportunities that can emerge out of JSSZ

00:33:56in terms of twinning, in terms of finding synergies between Malaysia and Singapore

00:34:01to serve as a platform for the broader regional market and global markets.

00:34:09The next set of questions I think revolve around incentives

00:34:12because naturally when we talk about special economic zones,

00:34:15people will definitely ask the question,

00:34:18what kind of incentive I can get?

00:34:21How do we attract investments and businesses into the region?

00:34:25Maybe I'll start with Ping Sun.

00:34:28Obviously, JSSZ has garnered a lot of interest from investors,

00:34:33including Singapore's local companies and SMEs.

00:34:36I mean, how does the JSSZ help Singapore's businesses expand their footprint

00:34:43and what's the incentive available?

00:34:46Sure.

00:34:46Thanks, Suhaimi.

00:34:48I've covered some of those benefits for Singapore,

00:34:51but I thought I would like to just add three more examples

00:34:54to what Jermaine has said in terms of what companies are looking for.

00:34:57And I want to reinforce the point that it's really about looking for the synergies

00:35:02in terms of the twinning.

00:35:04I think one sector that's getting a lot of headline nowadays is semiconductors.

00:35:08I think we're still waiting to see whether it's any industry-specific tariff

00:35:11on semiconductors.

00:35:13But be that as it may, I think semiconductors present a very interesting case study

00:35:17of how Singapore and Malaysia can successfully twin.

00:35:21Now, you think about it.

00:35:22If you break down the semiconductor value chain,

00:35:24I think the front-end fabrication, the high-value-added operations,

00:35:28which Singapore has many, can continue to be in Singapore.

00:35:30I know JSSZ is going for high-value-added activities.

00:35:34Semiconductor is certainly high-value.

00:35:36But no matter how high-value you have,

00:35:37there will be comparatively some more labor-intensive operations.

00:35:41And we talk about semiconductor.

00:35:43If you break it down, the fabrication can be in Singapore.

00:35:45But guess what?

00:35:46I think the assembly and test could potentially be in Johor.

00:35:48The assembly and test could be in Johor.

00:35:50The warehousing could be in Johor.

00:35:51And if the twinning is successful,

00:35:54I think the transportation of these goods

00:35:56across between Singapore and Malaysia

00:35:57would actually attract much lower green carbon emissions.

00:36:02You would not have a lot of carbon footprint

00:36:03because it's actually very near.

00:36:05So, semiconductors' operation is, I think,

00:36:07one good example where potentially Singapore and Malaysia can twin.

00:36:11The second one, I think Jermaine talked about Paris Baguette.

00:36:14So, I think I remember reading about this.

00:36:16I think it's been already announced in Food Technology

00:36:18with a company called AgroCrop.

00:36:20You know, it's an agri-commodities company,

00:36:22a food ingredient company, headquarters in Singapore.

00:36:25Guess what?

00:36:26They recently did a tie-up with the Singapore Institute of Technology

00:36:29to develop a new technology on the plant protein extraction.

00:36:34So, the R&D was done in Singapore

00:36:35through a tie-up of Singapore Institute of Technology.

00:36:38But they needed to look for a facility

00:36:41to do the downstream plant extraction protein.

00:36:43And they decided to set it up in Johor.

00:36:46So, again, that shows that the R&D is done in Singapore.

00:36:49You need to have a very close nexus between the R&D team

00:36:52as well as eventually plant operations.

00:36:54So, they decided to do it in Johor.

00:36:57The third one, Jermaine, talk about sustainable development,

00:37:00talk about data centre.

00:37:02In many of these data centres,

00:37:03one of the critical part of it is actually batteries.

00:37:06Right?

00:37:07You need a battery to store it.

00:37:09And we have a company called GoPig,

00:37:11a Singapore-listed company,

00:37:13very big in consumer batteries operations.

00:37:17They have production facilities in China.

00:37:19So, as part of the overall re-looking at the supply chain,

00:37:24they've decided, I think they've recently announced

00:37:26a $150 million US investment,

00:37:28I think facilitated by UOB,

00:37:30through their Green Lane investment,

00:37:32to set up in Johor.

00:37:33So, they are doing that.

00:37:34It's a very state-of-the-art nickel manufacturing,

00:37:37battery manufacturing operation in Johor.

00:37:41So, again, it's a good example.

00:37:42Singapore-listed company,

00:37:44production facilities in China,

00:37:46to serve China,

00:37:47but as the re-orientate to look at,

00:37:49you know, additional production facility,

00:37:51they decided to put in Johor.

00:37:54So, I think the possibilities are there,

00:37:56but I think there's a big if, right?

00:37:58People are looking to say that,

00:37:59okay, all these are potential.

00:38:01Can the potential be realised?

00:38:02And that's where, you know,

00:38:03we're looking forward, you know,

00:38:05to both the Singapore and the Malaysia government

00:38:06to make some of the early initiatives

00:38:08that's announced happen.

00:38:10You know, we talk about seamless flow of people,

00:38:12the QR code clearance,

00:38:14we talk about reducing customs clearance

00:38:16for goods as well.

00:38:17We talk about developing of a skilled workforce in Johor.

00:38:21The businesses is very happy to note

00:38:23that the early initiatives include ties up

00:38:25between the Institute of Higher Learning

00:38:27in Singapore as well as in Malaysia,

00:38:29so we can train up a workforce

00:38:30that supports a company.

00:38:31And we are certainly very delighted

00:38:33with the set-up of the Invest Malaysia

00:38:35Facilitation Centre for Johor.

00:38:37I'm glad that the focus of facilitation

00:38:40is not just in the investment approval process,

00:38:43but the entire lifecycle value chain.

00:38:45So, I think all these are possibilities.

00:38:46We just want to see things happening on the ground,

00:38:48then companies can start having the confidence

00:38:50to move forward with their plans.

00:38:51Thanks, Pingsun.

00:38:53There's a good segue for me to ask Datuk questions

00:38:56about what you mentioned earlier, Datuk.

00:38:59We are kind of moving away from generic incentive

00:39:02to something that's more tailor-made

00:39:03to make it relevant for, I suppose,

00:39:07more on the ground level

00:39:08in terms of what industries,

00:39:10even specifically business and companies want.

00:39:11So, maybe Datuk can explain a bit

00:39:15when it comes to coming up with these tailor-made incentives

00:39:21from the perspective of, I suppose, Malaysia side.

00:39:25what are the key considerations

00:39:28when we evaluate the eligibility

00:39:32of investors, businesses for incentives?

00:39:38Well, it's not just JSSZ,

00:39:41but the whole of Malaysia.

00:39:42I think now the government is looking at

00:39:45what are the impacts that the country will get

00:39:48out of these incentives that we are giving, right?

00:39:52It's going to be outcome-based

00:39:54and, you know, through incentive,

00:39:57we want to basically engineer

00:40:00what sort of industries that we want to bring

00:40:03over to Malaysia,

00:40:06including Johor, Singapore, SZ.

00:40:09So, just want to elaborate a bit more

00:40:12of this flagship area,

00:40:14about seven of them,

00:40:16which include two, you know,

00:40:19areas in Pengerang and as well as in Forest City.

00:40:22For Johor Bahru, Waterfront City Centre, for example,

00:40:27is for business services, digital economy and health.

00:40:32Incentive is from Global Services Hub

00:40:35for regional headquarters, treasury centres,

00:40:38high-value digital activities and urban healthcare services.

00:40:40So, these are some of the new activities that we want to bring over.

00:40:45And Johor Bahru, Waterfront and City Centre

00:40:50will be the location for these activities, right?

00:40:54Iskandar Puteri, manufacturing, business services,

00:40:58digital economy, education, health and tourism.

00:41:01So, again, some of the incentives that we want,

00:41:05we can offer is Global Services Hubs, yeah?

00:41:08To support diverse industrial, digital education,

00:41:12digital education, healthcare and tourism sectors, right?

00:41:16And then for Tanjung Perlepas,

00:41:18Tanjung Bin is manufacturing energy logistics, right?

00:41:22So, what we, you know,

00:41:24Malaysian government can offer

00:41:25is smart logistics complex incentives.

00:41:27for tech-driven logistics, manufacturing and energy operations,

00:41:32leveraging port infrastructure.

00:41:36So, these are examples of how, through incentives,

00:41:40you know, we can attract those high-value

00:41:43and high-growth industries that, you know,

00:41:48we want to bring over to JSSEG.

00:41:51Obviously, you know, with the support of Singapore government, right?

00:41:55You know, with, you know, with what we call

00:41:58joint missions that we're going to do, for example.

00:42:01Well, Jermaine is new,

00:42:03but I've discussed this with your, what we call, predecessor.

00:42:07Maybe we can discuss this in details.

00:42:10How do we then target, yeah,

00:42:12those companies that we want to bring over

00:42:16and, well, make that spillover happen?

00:42:19And, of course, to excite them,

00:42:22we'll offer some of the incentives that I mentioned earlier on,

00:42:25but that is just an example, right?

00:42:27We have a few more incentives

00:42:29that are designed for some of these high-value

00:42:32and high-growth sectors.

00:42:34Yeah.

00:42:34Do look forward for more discussion

00:42:36between Maidan and EDB,

00:42:37because, obviously, I think there was that mention

00:42:41about, you know, 50 catalytic projects

00:42:43in the first five years

00:42:44and then another 100 catalytic projects

00:42:47in the total first 10 years of JSSEZ.

00:42:50Yes.

00:42:52Jacob, from a businessman perspective,

00:42:56I mean, besides incentives,

00:42:58what are the key considerations

00:42:59that, you know, a company would look into

00:43:03when they decide to do investment

00:43:08or business in JSSEZ?

00:43:10Thank you, Suami.

00:43:11Well, in YB's opening speech,

00:43:15he asked the question,

00:43:17will JSSEZ work or succeed, you know?

00:43:21And, well, to the Singaporeans' friends here,

00:43:25I would say, why choose other places

00:43:28but not Malaysia?

00:43:29Because Johor is at your doorstep.

00:43:31So, that is a very natural way

00:43:35to choose a destination.

00:43:38Well, besides the so-called

00:43:40comprehensive incentive attached to this JSSEZ,

00:43:46and I do think that we,

00:43:49many companies are looking at also

00:43:51the country profile,

00:43:53especially in this very volatile

00:43:55business environment.

00:43:56post-COVID-19,

00:43:59we learn about the threat

00:44:02of supply chain disruption.

00:44:06In Mr. Trump's 2.0 era,

00:44:10we talk about the tariff, you know,

00:44:14and so that could actually

00:44:17bring about very stiff competitions

00:44:21and relocations of the manufacturing bases.

00:44:26Malaysia, being a very investor-friendly country,

00:44:30we have signed 16 FTA, you know?

00:44:33We are also members of this RCEP

00:44:37and CPTPP.

00:44:38the Malaysia and the European Union

00:44:43free-trick agreements,

00:44:45we have resuming our talk,

00:44:50and also other free-trick agreements

00:44:51with the European countries

00:44:53are also in process.

00:44:54So, it is a very business-friendly nation.

00:45:01Besides that,

00:45:03when we talk about the green economy,

00:45:06the sustainability,

00:45:09well, Malaysia has a very aggressive plan

00:45:10in terms of our energy transition program.

00:45:14We have the blueprint or the roadmap

00:45:17for the national energy transition roadmap,

00:45:20targeting 2050

00:45:24to achieve the net-zero carbon emission.

00:45:28I think that will be very helpful,

00:45:31especially when you supply to MNC.

00:45:36A big concern is on the talents,

00:45:39on the workforce.

00:45:43We have 92 universities all over Malaysia

00:45:46producing about 270,000 graduates every year,

00:45:53supplying to the workforce.

00:45:55And we also have like 1,345 TWET institutions

00:46:00producing about 74,000 TWET students.

00:46:07And 94.5% of these students from TWET

00:46:12are being employed.

00:46:13So, there is a very steady,

00:46:17sufficient supply of talents in Malaysia.

00:46:21Of course, Malaysia,

00:46:22we have to address the brain drain challenges.

00:46:27But brain drain is unavoidable.

00:46:31Even Singaporeans are working overseas.

00:46:33It is a kind of modern lifestyle.

00:46:37Our young people,

00:46:38when they graduate,

00:46:39they want to see the world,

00:46:40they want to have different exposures,

00:46:42working everywhere.

00:46:44So, I think that's inevitable.

00:46:46Perhaps FMM has always been advocating

00:46:49to the Malaysian government

00:46:50to have probably, you know,

00:46:54talents mobility, you know,

00:46:56within ASEAN countries, okay?

00:46:58When people take our talents,

00:47:00we can take talents from other places.

00:47:02So, that should be the way, you know,

00:47:05because even you can see USA, you know,

00:47:07a lot of,

00:47:08they're taking our talents from everywhere in the world,

00:47:11okay?

00:47:12But their talents are also working elsewhere.

00:47:15So, talent is one important consideration.

00:47:19And I don't think talent is an issue

00:47:22because as long as you give them

00:47:25the right remuneration,

00:47:26and I do think that

00:47:28they will stay, okay?

00:47:32I am the chairman

00:47:33for the business advisory group

00:47:36for Malaysia and Taiwan.

00:47:38And in many of our meetings,

00:47:40I have always heard of Taiwanese company

00:47:43telling their friends in Vietnam,

00:47:48in Cambodia,

00:47:49and even back in Taiwan,

00:47:51that Malaysia is the best place

00:47:55to put up their factory there.

00:47:58So, it has been,

00:48:00I have heard many stories like that

00:48:05saying that Malaysia is a

00:48:07very ideal place for investment.

00:48:12The strategy location, okay?

00:48:14We are next to Singapore, okay?

00:48:17Just one bridge away.

00:48:21This is a very strategic location.

00:48:24It's a gateway to ASEAN.

00:48:27We can tap on the high-level experts

00:48:32or high technology from Singapore

00:48:35and also a gateway to ASEAN

00:48:40and to the world.

00:48:41You have one of the best airport in the world.

00:48:44Your port is always ranked among the top.

00:48:49So, I think connectivity is excellent.

00:48:53So, the location is strategic.

00:49:00So, I do,

00:49:01these are all the proof factors

00:49:02that could make JSSEZ successful

00:49:05and why businesses would want to choose JSSEZ.

00:49:11In fact,

00:49:12in fact,

00:49:13we have received some inquiry

00:49:15from our members

00:49:17saying that JSSEZ is too exclusive.

00:49:22You know,

00:49:22it should be opened up

00:49:24to some conventional manufacturing

00:49:26because it seems to place emphasis

00:49:29on like AI,

00:49:32on digitalisations,

00:49:34on, you know,

00:49:35some other very advanced industry.

00:49:38When the conventional manufacturers

00:49:40look at this,

00:49:41they say,

00:49:42you know,

00:49:43we don't have a share in it.

00:49:45So,

00:49:45we do hope that,

00:49:46you know,

00:49:46Maida

00:49:47or JSSEZ,

00:49:49the University of Malaysia.

00:49:50So,

00:49:50look into more inclusive,

00:49:52giving others conventional manufacturing

00:49:55also a chance

00:49:58to participate

00:50:00in this project.

00:50:04Jacob,

00:50:05touch on this,

00:50:06I suppose,

00:50:06a hot button topic of talent.

00:50:08And I would like to get reaction,

00:50:11response,

00:50:12thoughts from the other panellists

00:50:14on this issue of talent

00:50:16vis-a-vis JSSEZ.

00:50:17Is it something that,

00:50:20you know,

00:50:21potentially can make or break JSSEZ?

00:50:23Is it maybe

00:50:24we can start with Pink Soon first?

00:50:25No,

00:50:25I agree.

00:50:26I think the three things

00:50:27that Singapore businesses

00:50:28are looking,

00:50:30you know,

00:50:30to see that both governments

00:50:31move forward,

00:50:33you know,

00:50:33we talk a lot about

00:50:34the ease of flow

00:50:35of people and goods.

00:50:36I think that's well covered.

00:50:37I think the second bucket

00:50:38is really the availability

00:50:39of skilled talent.

00:50:40And I'm glad to know

00:50:42that there are certainly

00:50:42many universities over here.

00:50:44But I think Johor in itself

00:50:46is also running short

00:50:47of labour as well.

00:50:48So the question now

00:50:49is it's not just

00:50:50the availability of labour

00:50:51but the skilled acquisition

00:50:53of this group of people.

00:50:55Which is why,

00:50:55as I said,

00:50:56you know,

00:50:56when we saw the agreement

00:50:58that was signed,

00:50:59there was some mention

00:51:01about collaboration

00:51:02between,

00:51:02I mentioned

00:51:03the Singapore Institute of Learning

00:51:04as well as

00:51:05their counterparts in Malaysia.

00:51:06What we hope is that

00:51:07some of this training

00:51:09collaboration

00:51:10can be done

00:51:11while recognising

00:51:12mutual recognitions

00:51:13of frameworks.

00:51:14We hope that the training

00:51:15that's being done

00:51:16in Johor

00:51:17can be guided

00:51:18by the initial route

00:51:19of investments

00:51:20that are coming in

00:51:21so that after training

00:51:22they can immediately

00:51:22get jobs

00:51:23in those companies.

00:51:25So that's one thing

00:51:26and with that,

00:51:27I think the key thing

00:51:28is how can we make

00:51:29Johor as a magnet talent

00:51:30also,

00:51:31you know,

00:51:31for other parts of Malaysia

00:51:33that they will want

00:51:34to come over

00:51:34and work in Johor SEZ.

00:51:36So that's one aspect

00:51:37in addressing the talent.

00:51:39But no matter what,

00:51:40right,

00:51:40in terms of getting

00:51:41the Malaysia talent flow,

00:51:43you will still need

00:51:43to bring in foreign talent

00:51:44somewhere.

00:51:46Then the question

00:51:46is whether JSSEZ

00:51:48can also be a home

00:51:49for foreigners

00:51:50from outside

00:51:52of Singapore,

00:51:52Malaysia,

00:51:53right?

00:51:54There is already

00:51:54a digital nomad scheme

00:51:55that I'm aware of

00:51:56that Malaysia has,

00:51:57you know,

00:51:58that's for facilitate

00:51:59the movement

00:52:00of foreigners

00:52:00in and out of Malaysia

00:52:01focusing on the digital jobs.

00:52:03So just as my friend

00:52:04Jacob said,

00:52:05you know,

00:52:05whether the whole thing

00:52:07can look beyond,

00:52:08right,

00:52:08just digital nomads,

00:52:10you know,

00:52:10to actually facilitate

00:52:11perhaps foreigners

00:52:12who are working

00:52:13in Singapore,

00:52:14you know,

00:52:14but are able

00:52:15to actually live

00:52:16in Malaysia,

00:52:17right,

00:52:17and then commute

00:52:18on a daily basis

00:52:19over to support

00:52:20the operations

00:52:21in Singapore.

00:52:21So some of these

00:52:22additional considerations,

00:52:24I think what businesses

00:52:25are looking for

00:52:26to address the talent,

00:52:27not just relying

00:52:28on Singapore talent,

00:52:28Malaysia talent,

00:52:29but really,

00:52:30you know,

00:52:30in the whole region

00:52:31and that JSSEZ

00:52:33can be a place

00:52:33for them to live,

00:52:34for them to work

00:52:35and go to work

00:52:36depending on

00:52:36where the complementarity

00:52:37is between operations

00:52:39in Singapore and Malaysia.

00:52:40Okay,

00:52:41we've heard from

00:52:42representatives from

00:52:43businesses and industry

00:52:44on talent.

00:52:45I want to hear reactions

00:52:46from policymaking agencies

00:52:48on the issue of talents.

00:52:50Well,

00:52:50thanks,

00:52:50I mean,

00:52:50no,

00:52:51I must say I agree

00:52:52with what Ping Soon

00:52:53has mentioned.

00:52:55It's really about

00:52:55how we can work together

00:52:57to,

00:52:57you know,

00:52:58to make sure

00:52:58to train a supply

00:53:00of industry-ready

00:53:01skills and talent.

00:53:02I think that's

00:53:02the most important point.

00:53:04And I think

00:53:05what's also important

00:53:06is to go back

00:53:07to what we're trying to do.

00:53:09This Johor Singapore

00:53:10special economic zone,

00:53:12it's really about

00:53:12making this area,

00:53:14this region,

00:53:15both sides attractive,

00:53:17you know,

00:53:17not just for capital

00:53:18but also for talent,

00:53:19right?

00:53:20Not just for within Malaysia

00:53:22or from Singapore

00:53:22but regionally

00:53:23and ideally also globally.

00:53:25That's what makes us

00:53:26competitive

00:53:26and that's what gives

00:53:27this particular project

00:53:29a competitive edge.

00:53:30So I think

00:53:31that's how we look at it

00:53:32and that's how

00:53:33we will

00:53:34approach this issue

00:53:36in terms of talent

00:53:37because really

00:53:38that's fundamentally

00:53:39about making sure

00:53:39the skilled

00:53:40and labour is available.

00:53:43Leto?

00:53:46Well,

00:53:47I concur with all

00:53:48the three

00:53:48panellists as well

00:53:49talking about

00:53:50how important

00:53:51talent,

00:53:52you know,

00:53:52to ensure

00:53:54that this JSSEZ

00:53:55can achieve

00:53:57a successful

00:53:58what you call

00:54:00journey,

00:54:01right?

00:54:03For

00:54:03Malaysia,

00:54:05Singapore,

00:54:06I think

00:54:06we have agreed

00:54:07under the JSSEZ

00:54:09to establish

00:54:11this Talent Development Council,

00:54:13right?

00:54:14That is to

00:54:14basically

00:54:15to work together

00:54:17on how

00:54:17do we

00:54:18provide

00:54:20this

00:54:20training

00:54:21and

00:54:22the appropriate

00:54:23skill set

00:54:24to develop

00:54:25appropriate

00:54:25skill sets

00:54:27for this

00:54:28high growth

00:54:29and high value

00:54:30industries.

00:54:31That is one.

00:54:32And Johor alone,

00:54:33I think they also

00:54:33have this initiative

00:54:34called

00:54:35Johor Talent Development Council,

00:54:37right?

00:54:38Again,

00:54:39that will

00:54:39actually facilitate

00:54:41on the

00:54:42upskilling,

00:54:43training.

00:54:44It's not just

00:54:45for

00:54:45what you call

00:54:47MNCs,

00:54:48but also

00:54:48for

00:54:49local

00:54:49companies

00:54:51that will

00:54:52then support

00:54:53this operation

00:54:54of MNCs

00:54:55over here.

00:54:56In Maida,

00:54:57we have one

00:54:58division called

00:54:59Talent Industry

00:55:00Management

00:55:00Division

00:55:01where

00:55:03we are

00:55:04looking at

00:55:05the demand

00:55:06side.

00:55:07Talent

00:55:08that are

00:55:09required

00:55:09by

00:55:10companies

00:55:11that have

00:55:11already

00:55:12decided

00:55:14to invest

00:55:14here,

00:55:15right?

00:55:16That is

00:55:16for the

00:55:17whole

00:55:17nationwide.

00:55:20We work

00:55:20very closely

00:55:21with the

00:55:22Ministry of

00:55:23Higher Education,

00:55:24for example.

00:55:24We've signed

00:55:24an MOU

00:55:25with them.

00:55:26Some of the

00:55:27companies have

00:55:28enrolled to

00:55:28these

00:55:29projects

00:55:32projects

00:55:32that they

00:55:33want to

00:55:34have talents

00:55:36for the

00:55:37expansion,

00:55:37their new

00:55:38projects,

00:55:38and so on

00:55:38and so forth.

00:55:39So,

00:55:39this can

00:55:40also,

00:55:41in fact,

00:55:42this will be

00:55:42extended to

00:55:43Johor,

00:55:43Singapore,

00:55:44as exec.

00:55:45the recent

00:55:46one that

00:55:47we have

00:55:48signed,

00:55:48the MOU,

00:55:49is with

00:55:49the

00:55:50M-Tones,

00:55:52the technical

00:55:52universities as

00:55:53well.

00:55:54For them

00:55:55to look at

00:55:56training

00:55:57the

00:55:58new,

00:55:59what you

00:56:00call,

00:56:02well,

00:56:02the

00:56:03talent for

00:56:06new

00:56:06industries,

00:56:07semiconductors,

00:56:08medical

00:56:10devices,

00:56:11even the

00:56:12recent one

00:56:13is

00:56:13AM,

00:56:14where

00:56:15Maida

00:56:16is very

00:56:17much

00:56:18involved

00:56:18in the

00:56:19training of

00:56:20about

00:56:2210,000

00:56:22IC

00:56:23designers.

00:56:24So,

00:56:25it's tall

00:56:26order for

00:56:26us.

00:56:27Within,

00:56:28I think,

00:56:2810 years,

00:56:29this is about

00:56:3010,000,

00:56:31I think,

00:56:32for us to

00:56:32develop this.

00:56:34It's an

00:56:35ongoing thing,

00:56:36I would say.

00:56:37It takes

00:56:37years for us

00:56:38to provide

00:56:40this talent

00:56:40for,

00:56:41you know,

00:56:42the right

00:56:42industries,

00:56:43especially in

00:56:44Johor,

00:56:44Singapore,

00:56:44ICZ.

00:56:45Thank you,

00:56:46Dato.

00:56:47So,

00:56:47we've talked

00:56:48about talent,

00:56:49and earlier

00:56:50there's some

00:56:52soundbites about

00:56:53incentives.

00:56:54There's another

00:56:54in that I want

00:56:55to touch on,

00:56:56that is

00:56:56infrastructure.

00:56:58I guess the

00:56:59view out here

00:57:00is,

00:57:01you know,

00:57:01infrastructure

00:57:02in Malaysia,

00:57:03Singapore,

00:57:04pretty advanced.

00:57:04So,

00:57:04I'm just

00:57:05wondering aloud

00:57:06whether the

00:57:08panel members

00:57:08have any

00:57:09thought about

00:57:09what else

00:57:10on infrastructure?

00:57:11What are

00:57:12the things

00:57:13that can

00:57:13be expand

00:57:14and improve

00:57:14from where

00:57:15we are now?

00:57:15What are

00:57:16the critical

00:57:16ones with

00:57:17regards to

00:57:17a special

00:57:18economic

00:57:18zone like

00:57:19JSSCZ?

00:57:21Well,

00:57:22I'll start.

00:57:23I think

00:57:24businesses are

00:57:24looking forward

00:57:25to N2026,

00:57:27right,

00:57:27with the

00:57:27RTS link.

00:57:29I heard

00:57:30the capacity

00:57:30was 10,000

00:57:31per hour.

00:57:32I think

00:57:32that would,

00:57:33I hope,

00:57:33really relieve

00:57:34the flow

00:57:34of people.

00:57:37That's one,

00:57:38but I

00:57:38think the

00:57:39people

00:57:39flow

00:57:39can be

00:57:40addressed

00:57:40by RTS.

00:57:41Of course,

00:57:41the question

00:57:42is that

00:57:42after RTS

00:57:42come over

00:57:43to Johor,

00:57:44the integrated

00:57:44development

00:57:45over there

00:57:45will be

00:57:45pretty important

00:57:46because you

00:57:46need that

00:57:47dispersal point.

00:57:48But I

00:57:48think what

00:57:49is equally

00:57:49important are

00:57:50the infrastructure

00:57:51for goods

00:57:51and cargo

00:57:52flow,

00:57:53right?

00:57:53We know

00:57:54infrastructure

00:57:55development

00:57:55takes time.

00:57:57Yes,

00:57:57we can help

00:57:58in terms of

00:57:58reducing the

00:57:59customs

00:57:59immigration form

00:58:00from two

00:58:01forms to

00:58:01one form

00:58:01and all

00:58:02that,

00:58:02but there

00:58:02will always

00:58:03be a

00:58:03choke point.

00:58:04The question

00:58:04is that

00:58:05if some

00:58:06of the

00:58:06people

00:58:06flow

00:58:06capacity

00:58:07can be

00:58:07relieved

00:58:07through

00:58:08RTS,

00:58:09then what

00:58:09can we

00:58:09do

00:58:09with

00:58:09existing

00:58:10infrastructure,

00:58:11land

00:58:11infrastructure

00:58:11particularly,

00:58:13to support

00:58:13the flow

00:58:14of goods

00:58:14and services,

00:58:15particularly

00:58:16with a

00:58:16twinning

00:58:16operation.

00:58:17We talk

00:58:17about a

00:58:18semiconductor,

00:58:18if it's

00:58:18really going

00:58:19to be

00:58:19twinning,

00:58:19there's

00:58:19many

00:58:20in and

00:58:20out

00:58:20just

00:58:20on a

00:58:21day

00:58:21basis.

00:58:22How can

00:58:22you

00:58:22facilitate

00:58:22that

00:58:23flow?

00:58:23How can

00:58:24we talk

00:58:24about

00:58:24infrastructure

00:58:25development

00:58:25in terms

00:58:26of maybe

00:58:26a bonded

00:58:27warehouse,

00:58:28that goods

00:58:28that are

00:58:29produced,

00:58:29and finally

00:58:30finishing

00:58:31touches in

00:58:36connectivity

00:58:36in Singapore,

00:58:37both the

00:58:37airports and

00:58:38the ports.

00:58:39These are

00:58:39the additional

00:58:40infrastructure

00:58:40that can

00:58:40be created.

00:58:42If indeed

00:58:42there's

00:58:42twinning

00:58:43operation,

00:58:43can there

00:58:43be extra

00:58:44landing points

00:58:45between

00:58:45Singapore

00:58:46and

00:58:46Malaysia?

00:58:46We

00:58:47may not

00:58:47need to

00:58:47build a

00:58:47new

00:58:47bridge.

00:58:48Are there

00:58:48possibilities

00:58:49of

00:58:49ferry

00:58:49flows

00:58:50using the

00:58:51sea,

00:58:51between

00:58:52the

00:58:53Tuas

00:58:53side and

00:58:54Putri

00:58:54Harbour

00:58:54side?

00:58:55These are

00:58:55the

00:58:56infrastructure

00:58:56development

00:58:57that we

00:58:58hope can

00:58:58be

00:58:59considered

00:58:59as the

00:59:00twinning

00:59:00operations

00:59:01get

00:59:01realised

00:59:02over

00:59:02time.

00:59:03Jermaine,

00:59:05Datoq,

00:59:05any

00:59:05thoughts

00:59:06from

00:59:06that

00:59:07particular

00:59:08perspective

00:59:09with

00:59:10regards

00:59:10to

00:59:10infrastructure

00:59:11pertaining

00:59:12to

00:59:12facilitating

00:59:14the

00:59:15faster

00:59:15movement

00:59:15clearing

00:59:16routes?

00:59:18On

00:59:18the

00:59:19faster

00:59:19movement,

00:59:19I think

00:59:20my

00:59:21colleague

00:59:21has

00:59:22already

00:59:22mentioned

00:59:22that

00:59:23basically

00:59:25on

00:59:25Singapore

00:59:26side,

00:59:26they

00:59:26are

00:59:26ready,

00:59:27I

00:59:27heard.

00:59:27On

00:59:28the

00:59:28Malaysian

00:59:28side,

00:59:28it's

00:59:29still

00:59:29at

00:59:29the

00:59:29final

00:59:30stage.

00:59:31They

00:59:32are

00:59:32talking

00:59:32about

00:59:33using

00:59:33some

00:59:35technology

00:59:35or

00:59:36devices

00:59:36that

00:59:37can

00:59:37scan

00:59:37your

00:59:37retina

00:59:38or

00:59:38something

00:59:38like

00:59:38that,

00:59:39right?

00:59:40But

00:59:40let

00:59:41the

00:59:42agency

00:59:45that is

00:59:45responsible

00:59:46for it

00:59:46to

00:59:47announce

00:59:47this.

00:59:48But

00:59:48what

00:59:48I want

00:59:49to

00:59:49touch

00:59:50on

00:59:50is

00:59:50the

00:59:51infrastructure

00:59:51basically

00:59:53talking

00:59:53about

00:59:54providing

00:59:54renewable

00:59:55energy.

00:59:56That

00:59:56is

00:59:56something

00:59:57that

00:59:58RE100

00:59:59companies

01:00:00are looking

01:00:00at

01:00:00right now.

01:00:01we

01:00:02have

01:00:02one

01:00:03initiative

01:00:04by

01:00:04UM

01:00:04Sunrise

01:00:05if I'm

01:00:05not

01:00:05mistaken

01:00:05that

01:00:06will

01:00:06be

01:00:07looking

01:00:07at

01:00:07this

01:00:08green

01:00:08industry

01:00:09park

01:00:10where

01:00:10they

01:00:10can

01:00:11also

01:00:11provide

01:00:11renewable

01:00:12energy

01:00:13for

01:00:14companies

01:00:15that

01:00:16basically

01:00:17is not

01:00:17by choice

01:00:18but

01:00:18they

01:00:18need

01:00:19to

01:00:19use

01:00:20this

01:00:20renewable

01:00:20energy

01:00:20because

01:00:21the

01:00:21customer

01:00:21wants

01:00:22them

01:00:23to

01:00:23use

01:00:23renewable

01:00:24energy.

01:00:24So

01:00:24it

01:00:25is

01:00:25very

01:00:25important

01:00:26you

01:00:26are

01:00:26talking

01:00:27about

01:00:27high

01:00:27growth

01:00:27high

01:00:29value

01:00:29sectors

01:00:30but

01:00:30if

01:00:30you

01:00:30are not

01:00:32able

01:00:33to

01:00:33provide

01:00:34renewable

01:00:34energy

01:00:35then

01:00:36it

01:00:36will

01:00:36be

01:00:36a

01:00:36bottleneck

01:00:37for

01:00:38GSSCZ

01:00:39to

01:00:39entice

01:00:40all

01:00:40these

01:00:41what

01:00:41they

01:00:41call

01:00:42companies

01:00:43that

01:00:43are

01:00:44looking

01:00:44at

01:00:44achieving

01:00:45net

01:00:45zero

01:00:46what

01:00:47they

01:00:48call

01:00:48ambition

01:00:48better

01:00:50at

01:00:50company

01:00:50firm

01:00:51level

01:00:51or

01:00:51even

01:00:52at

01:00:53what

01:00:54they

01:00:55call

01:00:55country

01:00:55level

01:00:55you

01:00:56looked

01:00:56at

01:00:56European

01:00:57countries

01:00:58they

01:00:58will

01:01:00institute

01:01:02this

01:01:03CBAM

01:01:03by

01:01:042026

01:01:06or

01:01:062027

01:01:07so

01:01:08you

01:01:08need

01:01:08to

01:01:09get

01:01:09ready

01:01:09for

01:01:09that

01:01:09market

01:01:10as

01:01:10well

01:01:10so

01:01:11one

01:01:12of

01:01:12the

01:01:12important

01:01:14infrastructure

01:01:15is

01:01:15on

01:01:15renewable

01:01:16energy

01:01:16provision

01:01:17of

01:01:18this

01:01:18supply

01:01:19of

01:01:19renewable

01:01:20energy

01:01:20Thank

01:01:23you

01:01:23Dr

01:01:23I

01:01:26remember

01:01:26when

01:01:27JSSEZ

01:01:28agreement

01:01:28was

01:01:28signed

01:01:29one

01:01:29of

01:01:30the

01:01:30things

01:01:30that

01:01:30was

01:01:30mentioned

01:01:31at

01:01:32least

01:01:32by

01:01:33YB

01:01:35Sree

01:01:36Rafizi

01:01:36economy

01:01:37minister

01:01:37was

01:01:38there's

01:01:39going

01:01:39to be

01:01:39a

01:01:39joint

01:01:40promotion

01:01:40of

01:01:41JSSEZ

01:01:42by

01:01:42Malaysia

01:01:43and

01:01:43Singapore

01:01:43so

01:01:44we

01:01:44like

01:01:45to

01:01:45ask

01:01:45panelists

01:01:46in

01:01:46terms

01:01:46of

01:01:47is

01:01:48there

01:01:48anything

01:01:48cooking

01:01:49on

01:01:49that

01:01:49you

01:01:54know

01:01:54we

01:01:54have

01:01:54to

01:01:55what

01:01:56you

01:01:56call

01:01:56give

01:01:58Jermaine

01:01:59a bit

01:01:59of

01:01:59time

01:02:00for

01:02:00them

01:02:01to

01:02:01you

01:02:01know

01:02:02Singapore

01:02:02EDB

01:02:02to

01:02:03discuss

01:02:03with

01:02:04us

01:02:04on

01:02:04this

01:02:04but

01:02:05as

01:02:05I

01:02:05said

01:02:05earlier

01:02:06we

01:02:06have

01:02:07been

01:02:07discussing

01:02:08this

01:02:08with

01:02:09the

01:02:10former

01:02:12MD

01:02:12of

01:02:12EDB

01:02:13and

01:02:13we

01:02:15are

01:02:15very

01:02:15positive

01:02:16about

01:02:17doing

01:02:17this

01:02:17joint

01:02:17promotion

01:02:18in

01:02:19fact

01:02:19Singapore

01:02:20EDB

01:02:21has

01:02:21overseas

01:02:22offices

01:02:23and

01:02:24we

01:02:24also

01:02:24have

01:02:24overseas

01:02:25offices

01:02:25that's

01:02:26where

01:02:26the

01:02:27value

01:02:28proposition

01:02:28is

01:02:30for us

01:02:31to

01:02:31really

01:02:31join

01:02:32forces

01:02:32and

01:02:33have

01:02:34a

01:02:34good

01:02:36narrative

01:02:36for

01:02:37both

01:02:37countries

01:02:39to

01:02:40really

01:02:40entice

01:02:41those

01:02:41companies

01:02:42and

01:02:42some

01:02:43of

01:02:43the

01:02:43companies

01:02:44have

01:02:44been

01:02:44really

01:02:45looked

01:02:46at

01:02:46how

01:02:47do

01:02:47they

01:02:48complement

01:02:48the

01:02:49strength

01:02:49of

01:02:50both

01:02:50countries

01:02:50I

01:02:51cannot

01:02:52mention

01:02:52names

01:02:53of

01:02:53companies

01:02:54but

01:02:54they

01:02:55really

01:02:56looked

01:02:56at

01:02:57Johor

01:02:57as

01:02:57one

01:02:58of

01:02:58the

01:02:58location

01:02:59for

01:02:59them

01:02:59to

01:02:59expand

01:03:00especially

01:03:02on

01:03:02the

01:03:02supply

01:03:02chain

01:03:03and

01:03:03this

01:03:03company

01:03:04basically

01:03:05supplying

01:03:05to

01:03:07major

01:03:08customers

01:03:09in

01:03:09semiconductor

01:03:10industry

01:03:10and

01:03:11they

01:03:11are

01:03:11in

01:03:12the

01:03:12machinery

01:03:13equipment

01:03:13one

01:03:14of

01:03:14the

01:03:14important

01:03:16player

01:03:16in

01:03:16the

01:03:17world

01:03:17so

01:03:18what

01:03:18they

01:03:18are

01:03:18saying

01:03:19is

01:03:19that

01:03:19Johor

01:03:20S

01:03:21Ezek

01:03:21really

01:03:22can

01:03:22offer

01:03:23them

01:03:23not

01:03:24just

01:03:25a

01:03:26location

01:03:26for

01:03:27them

01:03:28to

01:03:28do

01:03:28business

01:03:28but

01:03:29also

01:03:29the

01:03:30enablers

01:03:30talking

01:03:31about

01:03:31the

01:03:32local

01:03:33companies

01:03:33Jacob

01:03:33mentioned

01:03:34this

01:03:34of

01:03:35course

01:03:35we

01:03:35don't

01:03:36forget

01:03:36you

01:03:36especially

01:03:37the

01:03:37local

01:03:38companies

01:03:38how

01:03:39do

01:03:39we

01:03:39then

01:03:39support

01:03:41the

01:03:41development

01:03:42of

01:03:42local

01:03:43players

01:03:43right

01:03:44this

01:03:46is

01:03:46about

01:03:46spillover

01:03:47that

01:03:48the

01:03:49country

01:03:49will

01:03:49get

01:03:50out

01:03:50of

01:03:50this

01:03:50investment

01:03:51by

01:03:51MNC

01:03:52so

01:03:52surely

01:03:53I

01:03:54think

01:03:54we

01:03:55will

01:03:55work

01:03:56very

01:03:56closely

01:03:57in

01:03:57fact

01:03:57many

01:03:59of

01:03:59us

01:03:59know

01:04:00that

01:04:00Maida

01:04:01and

01:04:01EDB

01:04:01have

01:04:02been

01:04:02working

01:04:03very

01:04:03closely

01:04:04but

01:04:04I

01:04:04think

01:04:05we

01:04:05need

01:04:05to

01:04:06really

01:04:07structure

01:04:07on

01:04:08our

01:04:09promotion

01:04:09efforts

01:04:10to

01:04:11how

01:04:11do

01:04:11we

01:04:11sell

01:04:12this

01:04:12Johor

01:04:13SCZ

01:04:13as

01:04:13a

01:04:14high

01:04:15value

01:04:15and

01:04:16high

01:04:16growth

01:04:16investment

01:04:18location

01:04:19for

01:04:19companies

01:04:20well

01:04:21thanks

01:04:21Suhami

01:04:21and

01:04:21thanks

01:04:22Datuk

01:04:22fully

01:04:22agree

01:04:23what

01:04:23Datuk

01:04:23has

01:04:23mentioned

01:04:24on

01:04:25EDB's

01:04:26end

01:04:26we

01:04:27are

01:04:28fully

01:04:29committed

01:04:29to

01:04:29this

01:04:29to

01:04:29do

01:04:31the

01:04:31joint

01:04:31promotions

01:04:31I

01:04:32think we see this very clearly as a win-win proposition as I mentioned earlier

01:04:35in fact while I would say that on both EDB and Midas and actually the work has already begun

01:04:42we have already undertaken many joint facilitation forums speaking with companies fielding requests and enquiries and making some of these connections to make some of these promotions already happen

01:04:59some of these investments are already lending or in the process of doing so

01:05:03so I think that's work in progress and that's something certainly we will have to take it forward as we progress with this project

01:05:11so I would say it's absolutely positive and we're committed to working with Mida on this

01:05:16thank you

01:05:17thank you Jermaine

01:05:18I'm mindful of the time and the organiser has kind of instructing me to make sure that we had a hard stop at 11

01:05:26I think we are kind of 10 minutes away from 11am

01:05:29but what I would like

01:05:32now to do is maybe

01:05:35get some final thoughts

01:05:37from all the panellists

01:05:39with regards to JSSEZ

01:05:41particularly within this

01:05:42environment that

01:05:44you know we have to put up with

01:05:46thanks to a certain person that is currently occupying White House

01:05:50in the United States

01:05:51I mean if I can get

01:05:53sort of thoughts

01:05:55from all the panellists with regards to JSSEZ

01:05:59and the future of the world that we are facing right now

01:06:02the changing global dynamics

01:06:03the geoeconomics, geopolitical situation

01:06:07maybe start from that side

01:06:09sure

01:06:09if anybody can tell you the future of the world is delusional

01:06:13nobody can predict the future of the world

01:06:15but I think it's certainly not helpful

01:06:17this on again, off again

01:06:19but a certain person I think we can just call him out right

01:06:21but President Trump is obviously not helpful

01:06:24and I think for businesses

01:06:25the fear of the unknown

01:06:27is actually the worst for businesses

01:06:28and we are indeed living in a period

01:06:31where the fear of the unknown is the highest

01:06:33nobody is going to know

01:06:35what's going to happen after 90 days

01:06:37right

01:06:37you know

01:06:3870 countries are cutting deals with the US

01:06:40we know Malaysia is leading a delegation up

01:06:43we don't know what will happen

01:06:46will the reciprocal terrorists continue

01:06:48and if they continue

01:06:49at what rate

01:06:50at what country

01:06:50we just don't know

01:06:52and I think this fear of the unknown

01:06:53is the worst for businesses

01:06:55so to be quite candid

01:06:57businesses that we talk to

01:06:58are all just holding still

01:07:00right

01:07:00you know

01:07:01they have to make sense

01:07:02they have to take action

01:07:04immediately to mitigate

01:07:05because businesses have to go on

01:07:06but we are also telling businesses

01:07:08you need to plan ahead

01:07:09so whatever the case it is

01:07:11you got to ask yourself

01:07:13about supply chain resilience

01:07:15you got to ask yourself

01:07:16how do you diversify your production base

01:07:19you got to ask yourself

01:07:20number one

01:07:20is US a key market for you

01:07:22if US is a key market

01:07:24then you got to ask yourself

01:07:25where are you going to produce

01:07:26to support the US

01:07:27are you really going to go back

01:07:29and supply to US

01:07:31and produce in US

01:07:32is that even viable

01:07:33if that is not viable

01:07:34you got to look for another location

01:07:36right

01:07:36for you to continue to support US

01:07:38what will your calculations be

01:07:40it's not just a tariff rate

01:07:42right

01:07:42it's the overall competitiveness compass

01:07:45the cost of labour

01:07:46the cost of transportation

01:07:48as well of course

01:07:49the presence of the supplier base

01:07:51you got to ask yourself

01:07:53that even despite

01:07:54whatever tariff that's going to happen

01:07:55and we now know

01:07:56that 10% is the new low

01:07:57right

01:07:58so there's no more zero

01:07:59it's 10% is the new low

01:08:00can you get a competitive edge

01:08:02by finding a location

01:08:03notwithstanding the tariff

01:08:05at the same time

01:08:07yes

01:08:07businesses don't like

01:08:09I mean

01:08:10governments may not want to talk about it

01:08:11but are there tariff

01:08:12arbitrage opportunities then

01:08:14right

01:08:14and we don't know

01:08:16what's the final rate

01:08:17that Malaysia will get

01:08:18you know

01:08:18after the negotiations

01:08:19but if

01:08:20indeed

01:08:21Johor, Singapore, SEZ

01:08:22if you can achieve

01:08:24the twinning operations

01:08:25where you can meet

01:08:26the rules of origin

01:08:27right

01:08:28you know

01:08:29by leveraging

01:08:30on the best in class

01:08:31in Singapore and Malaysia

01:08:32and make use of

01:08:33Singapore's

01:08:3310% tariff rate

01:08:35then there will be

01:08:36savings

01:08:37you know

01:08:38but of course

01:08:38you're going to meet

01:08:38the rules of origin

01:08:39but let's

01:08:41take the lens

01:08:42away

01:08:43yes we are now

01:08:44very occupied

01:08:44with US

01:08:45and the rest of the world

01:08:47but US trade

01:08:48only accounts for

01:08:49I was told

01:08:5013 to 15%

01:08:50of world trade

01:08:51so there's another

01:08:52huge 85%

01:08:54of trade

01:08:54that's happening

01:08:55outside US

01:08:55that is a great opportunity

01:08:57so how do you

01:08:58then support that

01:08:59and I'm glad

01:09:00that you know

01:09:00my friend Jacob

01:09:02mentioned

01:09:02Malaysia has about

01:09:0316 FTAs

01:09:04well you combine

01:09:05with Singapore's

01:09:0627

01:09:07there about

01:09:08FTAs

01:09:09you practically

01:09:09cover the whole world

01:09:10right

01:09:11so these

01:09:12FTAs

01:09:13are an opportunity

01:09:13for us to deepen

01:09:14right

01:09:15you know

01:09:16the integration

01:09:16between Singapore

01:09:17and Malaysia

01:09:18to draw Singapore

01:09:18and I believe

01:09:20that JSSEZ

01:09:21can be that

01:09:22competitive

01:09:22economic powerhouse

01:09:24to support

01:09:25even the markets

01:09:26outside of US

01:09:27question is that

01:09:28we need to turn

01:09:28that potential

01:09:29into reality

01:09:30by speeding up

01:09:31the implementation

01:09:32that has been said

01:09:33and be even more bold

01:09:34in terms of

01:09:35infrastructure development

01:09:36in terms of

01:09:37talent development

01:09:37and in terms of

01:09:38making it much easier

01:09:39to do business

01:09:40in Johor

01:09:41thank you

01:09:42Jacob

01:09:43okay I think

01:09:45well I was born

01:09:47in the age

01:09:48where

01:09:48our family

01:09:49are quite poor

01:09:51okay

01:09:51in fact

01:09:52globalization

01:09:53free trade

01:09:55has actually

01:09:56made the world

01:09:57much better

01:09:58it has brought

01:10:00many many people

01:10:01out from poverty

01:10:03okay

01:10:04and to be educated

01:10:05to have a decent life

01:10:07and you know

01:10:09you can travel

01:10:09and see the world

01:10:10so

01:10:11globalization

01:10:13and open trade

01:10:14has done

01:10:15humanity

01:10:16a great favor

01:10:17and

01:10:18with

01:10:19the more and more

01:10:20politically

01:10:21right

01:10:22inclined

01:10:23nation

01:10:25that we are

01:10:25observing

01:10:26it is definitely

01:10:28not good

01:10:30for Malaysia

01:10:30because

01:10:31for both Malaysia

01:10:32and Singapore

01:10:32I believe

01:10:33we are all

01:10:34export

01:10:34driven country

01:10:35so we need

01:10:36the world market

01:10:37as for ASEAN

01:10:40I do think

01:10:41that there will be

01:10:41more collaboration

01:10:43need to be done

01:10:44Johor Singapore

01:10:47is a very

01:10:49solid example

01:10:51in this

01:10:52very dynamic

01:10:53world

01:10:53an example

01:10:55of collaborations

01:10:56of two nations

01:10:57and we do

01:10:59hope to see

01:11:00ASEAN

01:11:01not just being

01:11:02very competitive

01:11:03among one another

01:11:04with our peers

01:11:05but we can be

01:11:06more collaborative

01:11:07and for the

01:11:09policy makers

01:11:09for the business

01:11:10community

01:11:11we need

01:11:12to probably

01:11:13imagine

01:11:14how

01:11:16and in what

01:11:16way

01:11:17we can

01:11:18besides

01:11:19competing

01:11:21but at the

01:11:22same time

01:11:23collaborating

01:11:24and create

01:11:25a win-win

01:11:26situation

01:11:28as what

01:11:29our former

01:11:30Prime Minister

01:11:31Don Mahathir

01:11:32always say

01:11:32enrich thy neighbour

01:11:34that is

01:11:35the good policy

01:11:36so I do

01:11:37hope and suggest

01:11:39I hope

01:11:40JAS as he said

01:11:42will have

01:11:43a very wonderful

01:11:44result

01:11:44and setting

01:11:46a model

01:11:47not just

01:11:49for ASEAN

01:11:50but also

01:11:50for the world

01:11:51thank you

01:11:55during this

01:11:56time of

01:11:57uncertainty

01:11:58I think

01:11:58it's very

01:11:59important

01:11:59that

01:12:00to see

01:12:01this

01:12:01commitment

01:12:02by both

01:12:03sides

01:12:03by Singapore

01:12:04and Malaysia

01:12:04to remain

01:12:05open

01:12:06to trade

01:12:07investment

01:12:07to free flow

01:12:08of capital

01:12:09and people

01:12:10so really

01:12:12at this point

01:12:12in time

01:12:13regional economic

01:12:13integration

01:12:14remains more

01:12:15vital than ever

01:12:15and as

01:12:17Jacob mentioned

01:12:18really the

01:12:18Johor Singapore

01:12:19is a good

01:12:20example of

01:12:20that

01:12:21it's how

01:12:22we will

01:12:22use this

01:12:23model

01:12:23of twinning

01:12:24to make

01:12:25both sides

01:12:26more attractive

01:12:27and competitive

01:12:28than if

01:12:29Singapore or

01:12:30Johor were to

01:12:30go in it

01:12:31alone

01:12:32and this

01:12:33is again

01:12:34reinforced

01:12:34by this

01:12:35long term

01:12:35commitment

01:12:36but of course

01:12:36as the

01:12:37panel has

01:12:38also discussed

01:12:38it's really

01:12:39about

01:12:39translating

01:12:40all this

01:12:40into reality

01:12:41it's about

01:12:42making sure

01:12:42that things

01:12:42happen on the

01:12:43ground

01:12:43and that's

01:12:44why actually

01:12:45on the

01:12:45government's

01:12:46end

01:12:46we're working

01:12:46hard

01:12:46discussing

01:12:47the various

01:12:48issues

01:12:48to make

01:12:48sure

01:12:49that it

01:12:49happens

01:12:50and we

01:12:51are positive

01:12:51that it

01:12:52will happen

01:12:52we're confident

01:12:53that we

01:12:53can do it

01:12:53because if

01:12:54we can do

01:12:55it

01:12:55then it's

01:12:56really about

01:12:56creating

01:12:57something that's

01:12:58a win

01:12:59for Malaysia

01:13:00a win

01:13:00for Singapore

01:13:01a win

01:13:01for businesses

01:13:02and also

01:13:02a win

01:13:03for Southeast

01:13:03Asia

01:13:04and that's

01:13:04what we

01:13:04aspire

01:13:05and look

01:13:05forward

01:13:05towards

01:13:06thank you

01:13:07for

01:13:10Malaysia

01:13:11this

01:13:11uncertainty

01:13:12as what

01:13:13our minister

01:13:14mentioned

01:13:15the strategy

01:13:16is to

01:13:17engage

01:13:17to diversify

01:13:19and to

01:13:19reform

01:13:20engage

01:13:21means that

01:13:22of course

01:13:22now we

01:13:23have

01:13:24what you

01:13:25call

01:13:25the plan

01:13:27to go

01:13:27to the

01:13:28US

01:13:29and try

01:13:30to understand

01:13:30what do

01:13:32they need

01:13:32and so on

01:13:32so forth

01:13:33so it's

01:13:33not a

01:13:34negotiation

01:13:34team

01:13:35yet

01:13:35to be

01:13:37led by

01:13:38our

01:13:38minister

01:13:38and of

01:13:39course

01:13:40MK2

01:13:42but to

01:13:43really

01:13:43understand

01:13:44what

01:13:45basically

01:13:45US

01:13:46wants to

01:13:48do

01:13:48then

01:13:49the team

01:13:51will come

01:13:51back and

01:13:51discuss

01:13:52with other

01:13:52ministers

01:13:53and so on

01:13:53and the

01:13:54other part

01:13:55is to

01:13:56also

01:13:56understand

01:13:57feedback

01:13:58from

01:13:58companies

01:13:59we have

01:14:00done

01:14:00this

01:14:00engagement

01:14:01with

01:14:01industry

01:14:02players

01:14:03associations

01:14:03and a few

01:14:04others

01:14:05and many

01:14:06of them

01:14:06are still

01:14:06evaluating

01:14:07what are

01:14:07the impacts

01:14:08you know

01:14:10they will

01:14:11what they

01:14:13call

01:14:13experience

01:14:14and stuff

01:14:14like that

01:14:15but

01:14:16one of

01:14:18the panelists

01:14:19did mention

01:14:19about

01:14:20you know

01:14:21US is not

01:14:22everything

01:14:22we have

01:14:23so many

01:14:24other

01:14:24you know

01:14:25trade partners

01:14:26in fact

01:14:27for Malaysia

01:14:28the

01:14:29trade

01:14:31with US

01:14:32as compared

01:14:33to total

01:14:33trade

01:14:34is just

01:14:34about 11%

01:14:35something

01:14:36like that

01:14:37and we

01:14:38have

01:14:38another

01:14:3980%

01:14:40trade

01:14:41potential

01:14:42with

01:14:43other

01:14:43countries

01:14:44so what

01:14:45is important

01:14:45is how

01:14:46do we

01:14:47then

01:14:47strengthen

01:14:48and strategize

01:14:49with other

01:14:50countries

01:14:50for us

01:14:51to increase

01:14:52this

01:14:54trade

01:14:54if you

01:14:55look at

01:14:55ASEAN

01:14:56for example

01:14:56we don't

01:14:56do enough

01:14:57I believe

01:14:58right

01:14:58that is

01:14:59another

01:15:00very

01:15:01what we

01:15:02call

01:15:03important

01:15:03market

01:15:04within

01:15:05ASEAN

01:15:05we need

01:15:05to increase

01:15:06that

01:15:06trade

01:15:06and also

01:15:07investment

01:15:07as I

01:15:08shared

01:15:08earlier

01:15:09on

01:15:09we don't

01:15:10do

01:15:10also

01:15:11enough

01:15:12intra

01:15:13investment

01:15:14flows

01:15:15within

01:15:15ASEAN

01:15:16countries

01:15:16so that

01:15:17in itself

01:15:19is

01:15:19very good

01:15:21opportunities

01:15:22for us

01:15:22to be

01:15:23more

01:15:23resilient

01:15:24among

01:15:26ASEAN

01:15:26countries

01:15:26for example

01:15:27just now

01:15:27we did

01:15:28mention

01:15:29about

01:15:30within

01:15:31ASEAN

01:15:31we are

01:15:32pushing

01:15:32this

01:15:33supply

01:15:34chain

01:15:35among

01:15:35companies

01:15:36in ASEAN

01:15:37so that

01:15:38again

01:15:39will

01:15:40ensure

01:15:41the

01:15:41resiliency

01:15:41of

01:15:43ASEAN

01:15:43as an

01:15:44economic

01:15:44block

01:15:45that will

01:15:45then

01:15:46have

01:15:46more

01:15:47attractive

01:15:48for

01:15:48foreign

01:15:49investors

01:15:49to come

01:15:49to this

01:15:50region

01:15:50to do

01:15:51business

01:15:52the other

01:15:53important

01:15:53portion

01:15:54is

01:15:54for

01:15:55the

01:15:56country

01:15:56to keep

01:15:57reforming

01:15:58on our

01:15:59regulation

01:16:00not just

01:16:01within

01:16:02Malaysia

01:16:02but

01:16:02across

01:16:03ASEAN

01:16:04countries

01:16:04how do

01:16:05we then

01:16:05harmonize

01:16:06procedures

01:16:07and regulation

01:16:08in some

01:16:08of the

01:16:09industries

01:16:09in

01:16:10pharmaceutical

01:16:10for example

01:16:11automotive

01:16:13standards

01:16:14and regulation

01:16:15I believe

01:16:17we need

01:16:17to look

01:16:18at all

01:16:18these

01:16:19areas

01:16:21where

01:16:22it will

01:16:22then

01:16:22make

01:16:23ASEAN

01:16:24as a

01:16:24greater

01:16:25location

01:16:26for trade

01:16:27investment

01:16:28and

01:16:29Johor

01:16:30can

01:16:31actually

01:16:31fund

01:16:32that

01:16:32with

01:16:33investments

01:16:35in

01:16:35high

01:16:36growth

01:16:36high value

01:16:37sectors

01:16:37that

01:16:38will

01:16:38then

01:16:39can

01:16:40explore

01:16:40ASEAN

01:16:41as

01:16:42another

01:16:43what

01:16:44we call

01:16:44big markets

01:16:45and

01:16:45with

01:16:46non-US

01:16:48market

01:16:48in the

01:16:50world

01:16:50so

01:16:50a lot

01:16:52of things

01:16:52to do

01:16:53but

01:16:53I think

01:16:54we are

01:16:55optimistic

01:16:55that we

01:16:57can pull

01:16:57this

01:16:57through

01:16:57thank

01:16:58perfect

01:16:5911am

01:17:01on the

01:17:01dot

01:17:01I

01:17:04truly

01:17:04enjoy

01:17:04this

01:17:04conversation

01:17:05I just

01:17:05wish we

01:17:05have

01:17:06more

01:17:06time

01:17:06but

01:17:07I

01:17:07trust

01:17:07this

01:17:08session

01:17:08has

01:17:08been

01:17:08fruitful

01:17:09and

01:17:10informative

01:17:10with

01:17:11insightful

01:17:11takeaways

01:17:12to

01:17:12all

01:17:13of you

01:17:13and

01:17:14please

01:17:14show

01:17:14our

01:17:14appreciation

01:17:15to

01:17:16the

01:17:16panelists

01:17:16all right

01:17:21so a big

01:17:21thank you

01:17:22to Mr.

01:17:22Suhaim

01:17:23Ilyas

01:17:23and all

01:17:23our

01:17:23panelists

01:17:24for that

01:17:24discussion

01:17:25before we

01:17:25end

01:17:26let's

01:17:26have a

01:17:26quick

01:17:27group

01:17:27photo

01:17:27and

01:17:28can I

01:17:28get

01:17:29all

01:17:29the

01:17:29photographers

01:17:30to come

01:17:30in front

01:17:31to take

01:17:31the photo

01:17:32of our

01:17:33moderator

01:17:34and also

01:17:35all of

01:17:36our

01:17:36panelists

01:17:36so can

01:17:37I get

01:17:37the

01:17:37official

01:17:38photographer

01:17:38to come

01:17:39in front

01:17:40please

01:17:40you

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