SINGAPORE: The Johor-Singapore Special Economic Zone (JS-SEZ) will benefit businesses across multiple sectors, creating opportunities for the entire supply chain and boosting economic connections between Singapore and Malaysia.

UOB deputy chairman and chief executive officer (CEO) Wee Ee Cheong said this in a statement after hosting Johor Menteri Besar Datuk Onn Hafiz Ghazi at its Singapore headquarters in UOB Plaza.

Wee reiterated UOB’s long-term commitment to Malaysia and discussed with Menteri Besar the strengthening of ties and the boosting of Malaysia-Singapore connectivity through foreign direct investments.

"With UOB’s extensive regional network, enhanced platform capabilities and sector expertise, we are well positioned to support business growth in Singapore, Malaysia and across the region,” he said.

Meanwhile, UOB Malaysia CEO Ng Wei Wei said the JS-SEZ has the potential to drive economic growth, create employment and improve the lives of the people across the Causeway.

She said that having operated in Malaysia for more than 70 years, UOB Malaysia remains steadfast in supporting the businesses and consumers in the country.

"Leveraging UOB Group’s strong regional connectivity, I am confident that we are able to contribute meaningfully to the development of the JS-SEZ.

"We will continue to collaborate with the Johor state government and key stakeholders to drive investments and trade into the country,” Ng added.

Onn Hafiz’s visit was part of UOB’s efforts to strengthen collaboration initiatives under the planned JS-SEZ, which aims to boost cross-border economic connectivity between Singapore and Malaysia, as announced in January this year.

The Menteri Besar was accompanied by the High Commissioner of Malaysia to Singapore Datuk Azfar Mohamad Mustafar, members of the Johor State Executive Council, and key senior officials from the Johor state government and agencies.

During the visit, Onn Hafiz held private meetings with Wee and other bank leaders.

UOB also facilitated a roundtable discussion between the Johor delegation and representatives from large corporations and various business organisations.

They include the Singapore Business Federation, Singapore Manufacturing Federation, Singaporean-German Chamber of Industry and Commerce, China Enterprises Association (Singapore), the Korean Chamber of Commerce in Singapore and the Japan External Trade Organisation.

During the roundtable discussion, the Johor delegation presented the strategies, priority sectors and implementation plans for the JS-SEZ.

 - Bernama

https://www.thestar.com.my/business/business-news/2024/07/02/js-sez-will-benefit-multiple-sectors-entire-supply-chain---uob-ceo