The US-China tariff war will have significant implications on businesses in Singapore and Malaysia, many of which are embedded within the production and supply chains of both the United States and China, Gan, who is also Minister for Trade and Industry, told a business and investment forum in Malaysia’s southern state of Johor recently.
The new Johor-Singapore Special Economic Zone at the border of Singapore and Malaysia is expected to strengthen supply chains of businesses of both the countries amid uncertainties caused by US tariffs, according to the former’s Deputy Prime Minister Gan Kim Yong.
The SEZ aims at streamlining cross-border trade and investment in sectors like advanced manufacturing, logistics and digital economy.
The SEZ aims at streamlining cross-border trade and investment in sectors like advanced manufacturing, logistics, technology and digital economy, media outlets from the region reported.
The zone, encompassing 3,571 sq km of land across southern Johor, will offer simplified customs clearance, harmonised regulations, improved connectivity for both people and goods, and tax incentives for companies that set up operations there.
Fibre2Fashion News Desk (DS)
