Malaysia, Singapore to focus on investment, innovation to drive economic recovery - MIDA | Malaysian Investment Development Authority
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Malaysia, Singapore to focus on investment, innovation to drive economic recovery

Malaysia, Singapore to focus on investment, innovation to drive economic recovery

11 Aug 2022

Malaysia and Singapore have agreed to focus on enhancing investments and innovation to drive economic recovery post-pandemic.

This would further reinforce Iskandar Malaysia’s focus on social and economic recovery that is supported by a resilient ecosystem, said both countries in a joint statement after the 15th Malaysia-Singapore Joint Ministerial Committee for Iskandar Malaysia (JMCIM) meeting here today.

“The Malaysian Investment Development Authority (MIDA) and the Singapore Economic Development Board (EDB) will also actively undertake more joint investment promotion activities in 2022/2023 to facilitate investments in Iskandar Malaysia.

“Both parties also agreed to enhance collaboration in technical and vocational education training programmes,” the statement said.

The JMCIM also highlighted the importance of providing various transportation and other connectivity options for cross-border travel between Malaysia and Singapore.

“In this connection, the JMCIM welcomes the new ferry service between Singapore and Desaru which began last month.

“The Immigration Work Group continues to collaborate closely to ensure smooth facilitation of cross-border movement of people and goods and has done well to manage increasing traveller numbers since the land border reopened on April 1, 2022,” it said. 

JMCIM also welcomed Singapore’s plans to redevelop and extend Woodlands Checkpoint to enhance security, allow for more automated processes through the Immigration and Checkpoints Authority’s (ICA) New Clearance Concept, and reduce waiting time. 

“Malaysia is also planning to install additional M-BIKE lanes in order to improve traffic flow. This project will be known as M-Bike 2.0. 

“The JMCIM notes that the Transportation Links Work Group will also study ways to enhance cross-border connectivity for pedestrians and cyclists and agrees for the group to study the feasibility of proposals for new ferry services from Malaysia’s Puteri Harbour to Tuas in Singapore,” said JMCIM.

Apart from that, JMCIM pointed out that both countries are actively studying Malaysia’s proposal to set up a workgroup on food ecosystem cooperation, as agreed at the 14th JMCIM meeting in December 2021. 

Both countries look forward to meeting again early next year.

The meeting was co-chaired by Malaysia’s Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed and Singapore’s Minister for National Development Desmond Lee. 

Also present were Johor Menteri Besar Datuk Onn Hafiz Ghazi and Singapore’s Minister for Transport S. Iswaran.

The meeting started off with the ministers cycling for about 4.2 kilometres from the Johor Causeway followed by a typical Johor breakfast at a local kopitiam, demonstrating the close relations between Malaysia and Singapore.

Source: Bernama