Johor State Minister of Malaysia, Ong Hafiz, recently announced in public that the formal agreement to establish the Johor Singapore Special Economic Zone is expected to be signed in November this year. The announcement of this news marks an important step forward for both countries in promoting regional economic integration.

Weng Hafiz stated that the postponement of signing the agreement is to coincide with the upcoming informal summit between the leaders of Singapore and Malaysia at the end of this year, in order to ensure that the agreement can receive witness and support from the leaders of both countries at the most appropriate time. He emphasized, "We hope the agreement can be signed smoothly in November, and officials are working hard to finalize the final details. Don't worry, this economic zone will definitely be implemented, and we will do our best to ensure its success

The establishment of the Johor Bahru Special Economic Zone aims to leverage Johor's geographical advantages and Singapore's economic vitality to create a new engine for promoting economic growth between the two countries. Weng Hafiz pointed out that in recent years, Johor is striving towards the goal of becoming the first Malaysian state to enter by 2030, attracting more and more attention from Singaporean companies. Singaporean companies are also eager to expand into Johor and seek new development opportunities. Therefore, the establishment of the Rouxin Special Economic Zone can be described as a combination of favorable timing, location, and people.

Weng Hafiz also revealed that the Malaysian central government, Johor state government, and Singapore government have been working closely together to ensure the smooth development of the special economic zone. He emphasized that this is not a zero sum game, but an important measure for the two countries to achieve common development in various aspects, including the economy, bilateral relations, and other fields.

In response to the various concerns of enterprises about the Johor Bahru Special Economic Zone, such as whether human resources are sufficient, whether cross-border flows are smooth, whether the investment environment is convenient, and whether public security and infrastructure are complete, Weng Hafiz stated that the Johor Bahru government has discussed countermeasures with the central government and formulated detailed solutions. He gave an example that the Johor government has received guarantees from the central government to ensure that Johor's water supply will not be in short supply until 2050. At the same time, the government will also provide investors with a convenient business environment and solve the problem of talent shortage through one-stop services.

In terms of public security, Weng Hafiz pointed out that Johor police and local councils have been working together to reduce crime rates. He revealed that compared to 2019, the crime rate in Johor decreased by 46% last year, creating a safer living and working environment for investors and residents.

In addition, Weng Hafiz emphasized the differences between the Rouxin Special Economic Zone and the existing Iskandar Special Economic Zone. He pointed out that the Rouxin Special Economic Zone is established on the basis of the Iskandar Special Economic Zone and will bring more tax incentives and other policy dividends to enterprises. He encourages enterprises to seize opportunities and participate in the construction and development of the Rouxin Special Economic Zone as soon as possible.