In an interview with CNA, he shares the rationale behind some decisions regarding the Johor-Singapore Special Economic Zone and how the project aligns with his country’s vision.

Malaysia and Singapore leaders have signed an agreement to create a special economic zone to attract global investment and ease the cross-border flow of goods and people.

The Johor-Singapore Special Economic Zone (JS-SEZ) will bring a positive transformation to the state, says Mentri Besar Datuk Onn Hafiz Ghazi.

The leaders of Malaysia and Singapore formalized an agreement establishing a special economic zone linking their two nations’ border region, with the aim of attracting 50 projects in the first five years of its establishment.

While Singapore has one of the lowest corporate income tax rates in the region at 17%, companies in Malaysia pay between 15% and 24%. "Malaysia and Singapore agree to special economic zone in Johor" was originally created and published by Investment Monitor, a GlobalData owned brand.

This was announced in a bid to foster economic growth in the newly signed JS-SEZ, on top of previously announced tax incentives in Forest City.

Malaysia unveiled a slew of tax incentives to lure investors to its joint special economic zone with Singapore that seeks to add $26 billion per year to the Malaysian economy by 2030.

The JS-SEZ has a higher chance of success than past projects such as Iskandar Malaysia – launched in 2006 and conceptualised as a southern economic growth corridor – given the involvement of the Singapore Government, which brings to the table better governance, he noted.

The Johor-Singapore Special Economic Zone is nearly twice the size of Shenzhen, whose success it is hoping to emulate.