Singapore and Malaysia have collaborated on a great deal throughout our history and have had our share of problems, but these are minor and not insurmountable, says Malaysia’s Prime Minister Anwar Ibrahim on Sept 26.
Anwar delivered the keynote speech at Invest Malaysia, an annual conference by the Malaysian stock exchange Bursa Malaysia. In a first since the conference began in 2005, this year’s edition has left Kuala Lumpur for Johor, a testament to the recent global investor interest that the state has enjoyed.
Anwar’s speech comes ahead of the anticipated signing of the Johor-Singapore Special Economic Zone (JS-SEZ) later this year, which was first formalised through the signing of a memorandum of understanding in January this year.
“Everybody has problems with their neighbours, but these issues are not issues that could create tensions or invite reckless exchanges between one another,” Anwar continues.
Instead, Malaysia’s premier says these issues should be discussed and should not deflect from the focus that both countries have to succeed. “We can be great partners if we collaborate and benefit from a win-win situation,” he adds, “and that is why I am excited to work with Singapore.”
Meanwhile, Anwar also addressed the political state of Malaysia. “It is unfortunate that Malaysia is sometimes associated with excesses such as high-level corruption and poor governance”, he says.
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“That is precisely the reason why the crackdown against corruption is clearly a priority set by this government,” Anwar continues. “Because through effective measures of good governance… we can achieve better efficiency, transparency and ease of doing business.”
Notably, Malaysia announced last week a series of incentives aimed at further boosting investor interest into Johor, particularly the infamous “ghost town” of Forest City, located near Second Link.
Malaysia unveiled a 0% tax rate for family offices, a concessionary corporate tax rate between 0% to 5% and a special individual income tax rate of 15% for knowledge workers and Malaysians who choose to work in Forest City.
“... This is quite a special consideration, because we want to prepare Johor as one of the primary engines of growth in the country,” Anwar ends. “Politically, we’re stable — fortunately, after relative turbulence in the past years."
