Johor moots Forest City to be part of greater economic zone with Singapore
The Johor government is looking to make the Forest City Special Financial Zone (SFZ) to be a part of the larger Johor-Singapore Special Economic Zone (JS-SEZ).
(MMO) – State investment, trade, consumer affairs and human resources committee chairman Lee Ting Han today said the proposal has been discussed internally and will be forwarded to the JS-SEZ working group.
He said the aim is to develop the area into an integrated zone for medical, tourism, education, real estate and a duty free zone, based on the Forest City master plan launched in 2016.
“This year, with the assistance coming from the federal government, we received the amendment for Forest City’s Pulau Satu to be a duty-free island.
“The announcement on Forest City’s SFZ was made by Prime Minister Datuk Seri Anwar Ibrahim about a year ago where work have been ongoing since then,” Lee said in a statement issued through Forest City.
He was commenting on the possibility of the Forest City SFZ to be placed under the JS-SEZ to provide a competitive advantage in attracting foreign direct investment to Johor.
Lee said Forest City was selected to be a SFZ due to its strategic location, and wants to include the financial sector to further develop the enclave.
“Forest City’s proximity to Singapore, which is an international financial and logistic hub in the region, is an added advantage on how it can complement the island republic.
