Latest news with #JS-SEZPartnersDialogue:AdvancingFacilitation
Yahoo
23-05-2025
- Business
- Yahoo
Johor-Singapore SEZ will transcend political cycles, says Rafizi
Rafizi has publicly vowed to resign from the Cabinet if he fails to retain the deputy presidency of Parti Keadilan Rakyat (PKR) The Johor-Singapore Special Economic Zone (JS-SEZ), as a bilateral initiative, must transcend political cycles, Minister of Economy Datuk Seri Mohd Rafizi Ramli said on Monday. The JS-SEZ must 'never depend on the sitting administration of the day, or the whims and desires of individual politicians', Rafizi said in his keynote address at the JS-SEZ Partners Dialogue: Advancing Facilitation event. The zone will continue to be a national priority in the coming years, he said. 'My time here is temporary, and there will eventually be another minister of economy to replace me,' he said. 'The last thing we need is for all the momentum, attention, and excitement to go to waste.' The comment comes at a time when he is facing what analysts say is an uphill battle against Nurul Izzah Anwar, the daughter of Prime Minister Datuk Seri Anwar Ibrahim, for the deputy president post of Parti Keadilan Rakyat (PKR). Rafizi has publicly vowed to resign from the Cabinet if he fails to retain the deputy presidency. Johor Menteri Besar Datuk Onn Hafiz Ghazi thanked Rafizi as the architect of the JS-SEZ and for his support to the state at the same event. Early indicators are encouraging for the JS-SEZ, with foreign direct investment interest in Johor showing strong momentum, Rafizi said on Monday. Rafizi also reiterated that coordination between federal and state authorities, particularly Johor, and collaboration with the Ministry of Investment, Trade and Industry have been central to maintaining the project's momentum. Malaysia and Singapore formally signed an agreement in January 2025 to create the zone that aims to attract 100 projects worth RM100 billion within its first decade and create some 100,000 new jobs in high-value economic sectors. To support the JS-SEZ, the government has announced incentives, including a special corporate tax rate, to lure investors to set up shop in the zone that stretches from Kulai and part of Pontian to Pengerang. See Also: Click here to stay updated with the Latest Business & Investment News in Singapore Rafizi: Johor-Singapore SEZ comprehensive blueprint to be finalised by end-2025 Maybank targets JS-SEZ cross-border flows, steps up push in Asean and Hong Kong JS-SEZ to bridge supply chain barriers in tariff wars Read more stories about where the money flows, and analysis of the biggest market stories from Singapore and around the World Get in-depth insights from our expert contributors, and dive into financial and economic trends Follow the market issue situation with our daily updates Or want more Lifestyle and Passion stories? Click here
New Straits Times
20-05-2025
- Business
- New Straits Times
CGS International backs Johor-Singapore SEZ with investment pledge
KUALA LUMPUR: CGS International Securities Malaysia Sdn Bhd (CGS MY) has strengthened its commitment to regional investment by signing four strategic Letters of Intent (LOIs) aimed at accelerating the development of the Johor-Singapore Special Economic Zone (JS-SEZ). As one of six financial institutions partnering with the Ministry of Economy, the Johor State government, and the Iskandar Region Development Authority, CGS MY is positioned as a key facilitator in driving economic activity within the JS-SEZ. Chief executive officer Azizah Mohd Yatim said CGS MY is actively engaging with companies to unlock opportunities within the zone, leveraging its regulatory transparency, cross-border connectivity, and attractive incentive framework. "As Asia's global investment house, CGS MY supports businesses in exploring capital access on JS-SEZ incentives, market expansion and strategic partnerships," she said. She added that the LOIs mark a vote of confidence in JS-SEZ appeal as a launchpad for innovation and it represents more than just investment interest. The LOIs were announced at the JS-SEZ Partners Dialogue: Advancing Facilitation on Monday. Positioned as a key regional financial player, CGS MY is aiming to facilitate RM3 billion in foreign direct investment (FDI) within the JS-SEZ over the next three years. In addition, the company is targeting another RM3 billion in assets under management through the development of Single Family Office (SFO) ventures.
The Star
19-05-2025
- Business
- The Star
Banking boost for JS-SEZ
Strategic partnership: Rafizi (left) and Onn Hafiz at JS-SEZ Partners Dialogue Advancing Facilitation. — LOW LAY PHON/The Star Six major financial institutions roped in to support investment growth KUALA LUMPUR: Six major financial institutions – both local and international – have been roped in to support investment growth in the Johor-Singapore Special Economic Zone (JS-SEZ). The six are Bank of America, HSBC, Sumitomo Mitsui Banking Corporation, CGS International Securities, Maybank and CIMB. Economy Minister Datuk Seri Rafizi Ramli said strategic partnerships were forged with the banks to galvanise private sector involvement and anchor capital flows within the zone. He said the ties with local banks and those from the West and East would reinforce investor confidence and accelerate economic activity. 'From the West, we have the likes of Bank of America and HSBC. From the East, we have Sumitomo Mitsui Banking Corporation and CGS International Securities. 'Maybank and CIMB round out the list of six,' he said in his speech at the JS-SEZ Partners Dialogue: Advancing Facilitation held here yesterday. Also present was Johor Mentri Besar Datuk Onn Hafiz Ghazi. Rafizi said the government will also launch the JS-SEZ Blueprint – which would serve as a one-stop reference document for investors, policymakers and the public – by the end of this year. Malaysia and Singapore have, for the first time, agreed to establish a joint task force to explore the framework for the special economic zone. The two nations signed a Memorandum of Understanding (MoU) in January and set a two-year timeline to finalise the agreement. Singapore is currently Johor's second largest foreign investor, contributing approximately 70% of the state's total foreign direct investment (FDI) in the manufacturing sector. Rafizi said the true measure of JS-SEZ's success lies not in signing agreements, but in delivering implementation. The implementation of the JS-SEZ, he said, would rest on four key pillars. The first focuses on financing support for strategic sectors such as the green economy, digital innovation and creative industries. The second and third pillars involve promotion and stakeholder engagement, leveraging the global networks of partner banks. Rafizi said this includes outreach through corporate bankers and private wealth advisors to showcase opportunities to multinational corporations (MNCs), private equity firms, family offices and individual investors. The fourth pillar centres on research and market intelligence, including regular economic outlook reports, market analyses and sector-specific insights to inform policy development. Meanwhile, the Johor state government is confident that it will surpass RM50bil in investments by the end of 2025, beating the RM48.5bil record set last year. Onn Hafiz attributed this optimism to the strong investor response to the JS-SEZ, which has evolved from a policy concept into a functioning driver of economic transformation. 'This is not just growth. This is momentum with meaning. This is proof that the JS-SEZ is working as a real engine of investment attraction and economic transformation,' he said. In the first quarter of 2025 alone, Johor recorded RM27.4bil in approved investments, a volume that took nine months to achieve in 2024. Another RM23bil in potential investments is expected to be finalised by the end of this quarter. In February, Onn Hafiz said the state government, in collaboration with federal ministries and agencies, launched the Invest Malaysia Facilitation Centre-Johor (IMFC-J) as a one-stop centre to streamline investor processes in the JS-SEZ. 'In just over two months, IMFC-J has received more than 300 investor enquiries, with 100 focused on the Forest City Special Financial Zone alone,' he said. So far, five major projects worth RM16.5bil have been fully facilitated through IMFC-J, with processing times shortened from three months to as little as one day. Active negotiations are also ongoing with 47 investors involving potential investments totalling RM40.1bil, he added.
The Star
19-05-2025
- Politics
- The Star
PKR's strength lies in open debate, says Rafizi
KUALA LUMPUR: A culture of open debate and free exchange of ideas has long been PKR's defining strength, says party deputy president Datuk Seri Rafizi Ramli ( pic ). Responding to vice-president Nurul Izzah Anwar's decision to reject a proposed debate with him, Rafizi said public discourse was a hallmark of PKR's internal democracy, including during past party elections. 'Our tradition has always embraced debates, even for deputy president candidates and AMK (Youth wing) leaders. That's our strength. ALSO READ: PKR election: Up to Nurul Izzah, Rafizi to decide on debate, says Saifuddin 'Whether or not candidates accept the invitation is entirely up to them. But delegates will take that into account when they vote,' he told reporters when met at the JS-SEZ Partners Dialogue: Advancing Facilitation here on Monday (May 19). Rafizi had proposed a public debate, suggesting it could cool tensions on the ground, sharpen focus on party direction and boost public engagement, with the party central leadership elections scheduled this weekend. He also argued it would bolster support for party president Datuk Seri Anwar Ibrahim's bid for a second term as prime minister. He reiterated that the offer for a debate came with no strings attached. 'I've already made the offer. I'm not going to force anyone. Every candidate or party has their own offerings for voters,' he said. 'My offering is this: let's defend our culture – where each candidate lays out their ideas and vision, and we're open to being evaluated by the delegates,' he added. ALSO READ: Which will win, Hiruk or Damai? Nurul Izzah, however, dismissed calls for a debate, saying her priority is to strengthen ties with delegates and continue ground-level outreach. Her stance comes despite Rafizi's previous show of support for her candidacy, where he warned that her defeat in the upcoming central leadership election could damage the party's image and be perceived as a rejection of Anwar, her father. 'My offer wasn't accepted by Nurul Izzah, so in the end, it's up to the delegates to decide,' Rafizi said.
The Star
19-05-2025
- Business
- The Star
'Game-changing' JS-SEZ has drawn interest from global financial players, says Rafizi
KUALA LUMPUR: The Johor-Singapore Special Economic Zone (JS-SEZ) represents a long-term, cross-border commitment that should not be subject to the whims of political leadership, says Datuk Seri Rafizi Ramli. The Economy Minister said policies such as the JS-SEZ must endure beyond any one administration or personality. ALSO READ: Strong interest in JS-SEZ 'Policy continuity should never depend on the sitting administration of the day or the desires of individual politicians. 'My time here is temporary, and there will eventually be another minister to replace me,' he said in his speech during the JS-SEZ Partners Dialogue: Advancing Facilitation here on Monday (May 19). Also present was Johor Mentri Besar Datuk Onn Hafiz Ghazi. Rafizi also said the initiative has drawn significant interest from global financial players. 'At every meeting I've had with sovereign wealth funds or analysts from global banks, JS-SEZ came up. There is a recognition that this could be a game-changer,' he said. Monday's event also saw the signing of letters of intent with six prominent banks from Asia, Europe and the United States. ALSO READ: Businesses urged to seize JS-SEZ opportunities Rafizi stressed that JS-SEZ is not merely a bilateral experiment but a long-term economic blueprint for both Malaysia and Singapore. 'When we inked the JS-SEZ agreement earlier this year, it may have seemed like a natural progression between two neighbouring countries with shared history. But the truth is far more complex,' he said. The idea, Rafizi said, was floated at the 16th Joint Ministerial Committee on Iskandar Malaysia in July 2023, when he, together with Onn Hafiz and Singapore minister Desmond Lee saw untapped synergy between Johor's growth potential and Singapore's investment power. 'This was unlike the Southern Corridor, which was a Malaysian-led initiative. JS-SEZ is a cross-border partnership, equally driven by both countries,' he said. ALSO READ: JS-SEZ focus areas and industry targets need more definition Within six months, the task force finalised a memorandum of understanding that was signed in January last year, well ahead of its two-year timeline. 'That is a credit to the hard work by our civil servants, often unseen,' Rafizi added. Monday's signing with international and local banks including Bank of America, HSBC, Sumitomo Mitsui Banking Corporation, CGS International Securities, Maybank and CIMB marks the 'first decisive step' in realising that vision, he added. Rafizi said the partnership with the banks signals more than just bilateral cooperation. 'With much of the world turning inwards, JS-SEZ bucks the trend. There is still an appetite for openness and collaboration,' he noted. In anticipation of scrutiny, Rafizi reassured stakeholders that JS-SEZ would not fade into inactivity. He said the government plans to launch the JS-SEZ Blueprint by year-end, a comprehensive roadmap laying out its long-term vision, strategic goals and investment prospects. 'I'd like to end on the long term. JS-SEZ, in many ways, is a promise to the future… a future where young Malaysians and Singaporeans coalesce to improve each other's lives. 'This is the first time both countries have made such a promise. If we remain mindful of our duty to future generations, it won't be the last,' he said.
