Mr Lennon Tan, president of the Singapore Manufacturing Federation, said the JS-SEZ’s vision is aligned with manufacturers’ needs. The inclusion of tax incentives, streamlined processes and infrastructure plans address cost and scalability challenges faced by manufacturers, he said. “While the vision is promising, manufacturers would benefit from detailed timelines for infrastructure development and policy roll-outs,” he added. Mr Tan said logistics and transportation are likely to see immediate benefits as trade volumes grow. In the next two to three years, he also expects increased interest and investments from regional manufacturers. In five to 10 years, he believes the JS-SEZ could evolve into a high-value manufacturing hub, contributing to Asean’s economic integration. “By addressing manufacturers’ evolving needs and maintaining a commitment to innovation and sustainability, the JS-SEZ has the potential to become a model for cross-border economic zones worldwide,” Mr Tan said.  Mr Teo Siong Seng, chairman of the JS-SEZ Singapore business working group of the Singapore Business Federation (SBF), said SBF hopes the agreement “heralds a new era of enhanced economic integration between Singapore and Johor”. “We are encouraged by the early initiatives that would immediately help address the three key pain points Singapore businesses faced operating in Johor – availability of labour, movement of people and goods, and investment facilitation,” he added. Local firm Old Chang Kee has two retail outlets and a production facility in Johor. It plans to extend the range and volume of its snacks manufactured in its Johor facility. “We believe the JS-SEZ may alleviate short-term rent and cost pressures in Singapore,” said Mr Philip Chow, the company’s director for Malaysia operations. “But (it) may also result in longer-term increased competition for Singapore retail businesses, especially those in the personal services and F&B (food and beverage) industries.” (ICE KUALA LUMPUR)

Fonte notizia: 14 Gennaio 2025