SINGAPORE: Since the Memorandum Of Understanding was signed between Singapore and Malaysia for the Johor-Singapore Special Economic Zone , signed early this year, there has been a lot of interest in the initiative., as Bloomberg put it, that is designed to be advantageous to the economies of both countries. However, bringing it to reality appears to be easier said than done.
They also specified insufficient skilled labour, unclear tax rules, and ease of movement as challenges they anticipate in connection with the special economic zone. “There will be companies from Singapore coming to Johor, but the bigger potential is companies from all over the world coming to Johor with a view of having the best of both worlds,”reported that international companies are asking for less red tape and better infrastructure to ensure the success of the SEZ.
A top official from a Dutch tank storage firm said that by establishing a one-stop shop for permits and approvals, Johor would make regulatory processes more streamlined.