Singapore invested over US$950m in manufacturing projects in Iskandar since 2019: joint ministerial committee

INVESTMENTS from Singapore-based companies still went to Iskandar Malaysia despite the Covid-19 pandemic, with 104 manufacturing projects amounting to US$847 million approved in 2019 and 2020.

Fifty-two projects amounting to US$371 million were approved in 2019, while another 52 projects amounting to US$476 million were approved in 2020 in key sectors such as electrical and electronics, fabricated metal products and machinery and equipment.

Additionally, for the first half of 2021, 20 manufacturing projects from Singapore with a total value of US$112 million were approved in Iskandar Malaysia, said the Malaysia-Singapore Joint Ministerial Committee for Iskandar Malaysia in a statement on Wednesday (Dec 22).

The statement was put out a day after the joint ministerial committee's 14th meeting on Dec 21 - the first Iskandar Malaysia meeting convened after a 4-year hiatus. The last meeting took place in July 2017.

It was co-chaired by Singapore's Minister for National Development Desmond Lee and Malaysia's Minister in the Prime Minister's Department (Economy) Mustapa Mohamed.

The committee said in its statement that the Industrial Cooperation Work Group - a work group promoting mutually beneficial economic activities between Singapore and Iskandar - will be looking to refresh its joint agenda in the coming year and explore new areas to collaborate, particularly in the focus areas of advanced materials engineering, electronics, food and talent development.

Separately, the committee said it welcomed the good progress of commercial, technical and regulatory discussions on the Johor Bahru-Singapore Rapid Transit System Link since the project resumed on Jul 30 last year.

On the cross-border bus services, the committee is looking at ways to improve existing arrangements to allow for wider coverage, as well as more efficient and comfortable services.

"Moving forward, the Transportation Links Work Group will support any efforts to expand the existing Vaccinated Travel Lane (Land) scheme to support economic reopening of both countries when the Covid-19 situation stabilises," the committee said.

During the meeting, it also agreed to review and refresh the terms of reference for the 6 work groups to address current and future developments, and to explore new areas of collaboration such as sustainability and the digital economy.

It also agreed to study Malaysia's proposal to set up a work group on food security as a possible area of collaboration.

"The Malaysia-Singapore Joint Ministerial Committee for Iskandar Malaysia looks forward to meeting again in mid-2022 to sustain the positive momentum of bilateral collaboration in view of the fast changing local, regional and global scenarios."