Latest news with #IskandarMalaysia
The Sun
20-07-2025
- Business
- The Sun
Market forces, not mandates, will decide JS-SEZ's future: CME CEO
PETALING JAYA: The long-term success of the Johor–Singapore Special Economic Zone (JS-SEZ) will depend on how well it aligns with real market demand and supports entrepreneurial innovation, according to Centre for Market Education CEO Dr Carmelo Ferlito. While tax incentives and strategic planning play a role, he cautioned that lasting economic development can only be driven by deeper, structural forces. 'Incentives go in the right direction,' Ferlito said, referring to the JS-SEZ's 5% corporate tax rate and 15% personal income tax rate for knowledge workers. 'But ultimately, the economic structure needs to be strong on its own, not just a will-o'-the-wisp.' Jointly developed by Malaysia and Singapore, the SEZ aims to attract high-value investments and create between 20,000 and 100,000 skilled jobs over the next decade. But Ferlito argued that real job creation must come from entrepreneurial experimentation, not government forecasts. 'It's not about the talent base, which Malaysia already has in abundance. It's about what the market needs,' he said. 'Sustainable employment arises as a response to market signals, not planning. What the market demands can't be predicted – it's discovered through bottom-up entrepreneurial activity.' On the fiscal front, while the SEZ offers aggressive tax breaks to attract investment, Ferlito warned against creating an isolated enclave that strays from national tax coherence. 'A tax system needs to be simple and fair to be effective,' he said. 'A special economic zone cannot function in isolation. For long-term sustainability, the broader tax environment must remain consistent nationwide.' He was also critical of government attempts to steer investment into specific sectors, saying such industrial planning risks distorting the economy. 'Yes,' he replied when asked if there's a risk of inefficiency. 'Investments should be driven by market signals, not government wish lists.' Ferlito further warned against artificially inflating wages through subsidies or interventions, noting that true income growth must come from productivity and competition. 'Avoid intervention,' he advised. 'Let productivity lead.' Reflecting on previous initiatives such as Iskandar Malaysia and the Sijori Growth Triangle, Ferlito said the JS-SEZ appears more coherent and better structured, but stressed that success still depends on the broader business environment. 'It does look better designed and more organically structured,' he said. 'But as I've mentioned, an SEZ cannot succeed in isolation. It needs to be supported by ease of doing business across the country.' On the potential role of Singaporean firms in the SEZ –particularly in areas such as research and development, technology transfer and workforce development – Ferlito reiterated his core principle: let the market lead. 'Let the market decide that,' he said. 'Economic order is an emergent order.' As Malaysia seeks to integrate its economy across borders to future-proof its economy, Ferlito's message is clear: it is the market – not mandates – that must determine the path forward.
Malay Mail
03-07-2025
- Malay Mail
Johor police: 150 men detained in raid on 64 car wash outlets across Iskandar Malaysia
JOHOR BARU, July 3 — A total of 147 foreign men and three local men, aged 21 to 57, were detained in a coordinated enforcement operation at 64 car wash centres across the Iskandar Malaysia yesterday. In a statement, Johor police chief CP Datuk M. Kumar said the joint operation with other agencies targeted non-compliance among operators, as well as offences involving undocumented migrants, drugs and online gambling. Investigations are underway under immigration laws for permit violations, overstaying and lacking valid documents, alongside offences under the Dangerous Drugs Act and the Common Gaming Houses Act. Kumar said offenders face penalties of up to RM100,000, jail sentences of two to five years and whipping for certain offences. Further action included investigations into illegal water connections, business licensing breaches and failure to display price tags under relevant regulations. Authorities also seized equipment and issued compounds to unlicensed premises. 'The operation achieved its objective of ensuring regulatory compliance and addressing illegal activities involving undocumented migrants,' he said. — Bernama
Malay Mail
25-04-2025
- Business
- Malay Mail
Iskandar Malaysia hits record RM41.4b in investments for 2024, says PM Anwar
KUALA LUMPUR, April 25 — Iskandar Malaysia has recorded committed investments totalling RM41.4 billion in 2024, an 11 per cent increase compared to RM37.2 billion in 2023, said Prime Minister Datuk Seri Anwar Ibrahim. Anwar, who is also the Finance Minister, said the value marks the highest achievement since Iskandar Malaysia was established. Realised investment value reached RM26.7 billion last year. Foreign investments amounted to RM36.1 billion while domestic investments totalled RM5.3 billion. 'In fact, this achievement proves that investor confidence in Iskandar Malaysia continues to grow,' he said in a post on Facebook yesterday. Anwar said he was informed of this matter during his chairing of the 34th meeting of the Members of Authority, Iskandar Regional Development Authority (IRDA), yesterday. In this regard, Anwar emphasised the importance of developing economic corridors such as Iskandar Malaysia to navigate the increasingly challenging and uncertain global economic and trade conditions. — Bernama
Barnama
24-04-2025
- Business
- Barnama
Iskandar Malaysia Records Committed Investments Of RM41.4 Bln In 2024
KUALA LUMPUR, April 24 (Bernama) -- Iskandar Malaysia has recorded committed investments totalling RM41.4 billion in 2024, an 11 per cent increase compared to RM37.2 billion in 2023, said Prime Minister Datuk Seri Anwar Ibrahim. Anwar, who is also the Finance Minister, said the value marks the highest achievement since Iskandar Malaysia was established. "Realised investment value reached RM26.7 billion last year. Foreign investments amounted to RM36.1 billion while domestic investments totalled RM5.3 billion.
The Sun
24-04-2025
- Business
- The Sun
Iskandar Malaysia records committed investments of RM41.4b in 2024
KUALA LUMPUR: Iskandar Malaysia has recorded committed investments totalling RM41.4 billion in 2024, an 11 per cent increase compared to RM37.2 billion in 2023, said Prime Minister Datuk Seri Anwar Ibrahim. Anwar, who is also the Finance Minister, said the value marks the highest achievement since Iskandar Malaysia was established. 'Realised investment value reached RM26.7 billion last year. Foreign investments amounted to RM36.1 billion while domestic investments totalled RM5.3 billion. 'In fact, this achievement proves that investor confidence in Iskandar Malaysia continues to grow,' he said in a post on Facebook today. Anwar said he was informed of this matter during his chairing of the 34th meeting of the Members of Authority, Iskandar Regional Development Authority (IRDA), today. In this regard, Anwar emphasised the importance of developing economic corridors such as Iskandar Malaysia to navigate the increasingly challenging and uncertain global economic and trade conditions.
