Singapore’s Heng: Iskandar Malaysia offers good opportunities to cluster full value chain of activities
05 Oct 2020
Iskandar Malaysia in Johor offers good opportunities for companies to cluster the full value chain of complementary activities, from research and development to regional headquarters and manufacturing, said Singapore Deputy Prime Minister and Finance Minister Heng Swee Keat.
Apart from Iskandar Malaysia, the southern economic region of Malaysia, he said the Batam, Bintan, Karimun regions of Indonesia presented the same opportunities.
“Southeast Asia can benefit from the greater premium on supply chain resilience through regional cooperation,” he said when delivering his Ministerial Statement in Parliament today.
The year 2020 presented a slew of hurdles for most of those in the agriculture and farming industry. They faced the ultimate conundrum: On the one hand, they needed to continue producing fresh produce for the many households that had started cooking again because of the Movement Control Order (MCO).
Heng said Singapore would further strengthen its value proposition through greater regional cooperation and by building up a leading trade and logistics ecosystem.
To support its ambitions, Heng said the republic would significantly strengthen its entire trade and logistics ecosystem, deepening capabilities in its port, airport and beyond.
Iskandar Malaysia has been rapidly growing since its inception in 2006 and is primed to become the preferred international metropolis to invest, work, and live with a targeted population of three million and RM383 billion in cumulative investments by 2025.
It has nine promoted sectors, namely electrical and electronics, petrochemical and oleo-chemical, food and agro-processing, logistics, tourism, creative, healthcare and financial.