Johor-Singapore SEZ offers new hope amid US-China tariff war, deputy PM Gan Kim Yong says
The Johor-Singapore Special Economic Zone (SEZ) is a showcase of how like-minded governments can collaborate and benefit amid global trade uncertainty arising from tariffs imposed by the United States, said Singapore's Deputy Prime Minister Gan Kim Yong on Monday.
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He added that the SEZ allows firms to strengthen their supply chains and grow their businesses in spite of protectionist policies announced by US President Donald Trump.
Gan, who was speaking at an investment business forum held at the Persada Johor International Convention Centre, also announced the opening of a new joint project office by Singapore authorities to support their firms keen on expanding to the SEZ.
'Today's event is … both important and timely. Important – because, amid a sharp rise in protectionism around the world, it demonstrates how like-minded countries can work with each other to overcome challenges facing us and unlock win-win benefits,' Gan, who is also Minister for Trade and Industry, said in his keynote address.
'And timely – because the JS-SEZ presents an opportunity for businesses to explore how to strengthen how to strengthen their supply chains, so that they can better respond to the volatilities and continue to grow their businesses,' he added.
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The Singapore and Malaysia governments signed a deal in January for the Johor-Singapore SEZ to promote and facilitate investments across 11 sectors: Manufacturing, logistics, food security, tourism, energy, digital economy, green economy, financial services, business services, education and health.
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