Malaysia, Singapore conduct feasibility study on SEZ, expected to sign MOU early next year – PM Lee

KUALA LUMPUR – Singapore and Malaysia are doing a feasibility study on the Special Economic Zone (SEZ) ecosystem enhancement between both countries, to find out what should be the focus of the economic zone moving forward.

Singapore Prime Minister Lee Hsien Loong said both countries will then sign a memorandum of understanding based on the outcome of the study, which was hoped to be done by early next year.

“Preliminarily, I think there are three things you want to do (in the SEZ). Firstly, improving the flow of goods between the two sides because SEZ may mean special tax arrangements and bonded warehouses and and therefore, more easy border flows.

“Secondly, better and easier arrangements on the flow of people who have to work on both sides of the causeway. They can go in and out, and then the companies in the SEZ are able to get the personnel they need, the right mix of professionals, skilled workers and other general workers,” he said during the joint press conference with Prime Minister Datuk Seri Anwar Ibrahim today. – BERNAMA