Johor-Singapore Special Economic Zone important and timely: Gan Kim Yong

21-04-2025

The Johor-Singapore Special Economic Zone (SEZ) is important and timely as global protectionism rises, said Trade and Industry Minister Gan Kim Yong said on Apr 21. He said it shows how like-minded nations can work together, so they both benefit. He added that it also means businesses have new firms to turn to strengthen their supply chains, amid sweeping US tariffs. He was speaking at the first joint business and investment forum in Johor, attended by more than 800 stakeholders. CNA spoke to Sumit Agarwal, Professor of Finance, Economics and Real Estate at the NUS Business School, who discussed how the SEZ will help firms face uncertainties caused by the US tariffs. The Johor-Singapore Special Economic Zone (SEZ) is important and timely as global protectionism rises, said Trade and Industry Minister Gan Kim Yong said on Apr 21. He said it shows how like-minded nations can work together, so they both benefit. He added that it also means businesses have new firms to turn to strengthen their supply chains, amid sweeping US tariffs. He was speaking at the first joint business and investment forum in Johor, attended by more than 800 stakeholders. CNA spoke to Sumit Agarwal, Professor of Finance, Economics and Real Estate at the NUS Business School, who discussed how the SEZ will help firms face uncertainties caused by the US tariffs.

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DPM Gan kicks off India visit in Mumbai as Singapore firms ink investment agreements

Sign up now: Get ST's newsletters delivered to your inbox – Kicking off his India visit aimed at deepening bilateral economic and business ties, Deputy Prime Minister Gan Kim Yong on Aug 12 witnessed Singapore firms inking agreements committing more than 200 billion rupees' (S$2.93 billion) worth of investments in Maharashtra state. In addition, DPM Gan, who is also Minister for Trade and Industry, visited PSA's port operations at Bharat Mumbai Container Terminal and inaugurated CapitaLand Investment's (CLI) first data centre in Navi Mumbai – touted as being two of the more significant investments by Singapore firms in Maharashtra. 'These investments underscore the growing bilateral economic partnership between Singapore and India and Singapore's confidence in India's long-term economic trajectory,' the Republic's Ministry of Trade and Industry said on Aug 12. 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The company added that the investments are part of a 'broader growth strategy for India' and that it aims to increase its funds under management from more than $8 billion to some $15 billion by 2028. DPM Gan also witnessed Singapore-based investment firm Mapletree Investments inking an MOU to invest 30 billion rupees to develop infrastructure in Maharashtra, including data centres, industrial parks and logistics parks. Additionally, he witnessed an MOU being signed between Manipal Health Enterprises and the Maharashtra government to facilitate a proposed investment by the former to construct and run a multi-speciality hospital in the city of Nagpur. DPM Gan and Mr Fadnavis toured Phase 2 of PSA Mumbai, a container terminal at Jawaharlal Nehru Port in Navi Mumbai operated by the international arm of PSA. The Phase 2 extension, when completed, would make PSA Mumbai India's largest single container terminal. DPM Gan will next head to New Delhi, where he will lead the Singapore delegation at the third India-Singapore Ministerial Roundtable. He will be accompanied by Coordinating Minister for National Security and Minister for Home Affairs K. Shanmugam, Foreign Minister Vivian Balakrishnan, Minister for Digital Development and Information Josephine Teo, Minister for Manpower and Minister-in-charge of Energy and Science & Technology Tan See Leng, and Acting Minister for Transport and Senior Minister of State for Finance Jeffrey Siow. They will meet Indian Minister of Finance and Corporate Affairs Nirmala Sitharaman, Minister of External Affairs S. Jaishankar, Minister of Commerce and Industry Piyush Goyal, and Minister of Electronics and Information Technology, Railways, Information and Broadcasting Ashwini Vaishnaw. India and Singapore share close political, defence and economic ties, with a constant exchange of high-level visits. Singapore is India's top foreign investor and accounted for about 24 per cent of India's foreign direct investment equity inflows since 2000. Meanwhile, Indian investment in Singapore has grown from $481 million in 2004 to about $31.6 billion in 2023. The India-Singapore Ministerial Roundtable is a mechanism that the Indian government has termed as 'unique' as it brings various ministers from both sides to explore how the two countries can expand cooperation. The Ministry of Foreign Affairs noted that the roundtable on Aug 13 'is an important ministerial-level platform between Singapore and India to drive cooperation in new and emerging areas'.

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