The zone aims to improve the flow of goods and people between both sides of the Causeway and enhance the ecosystem of the Iskandar development region and Singapore.
Speaking at a joint press conference with Malaysian Prime Minister Anwar Ibrahim at the Istana, PM Lee said the 10th Singapore-Malaysia Leaders’ Retreat was an important milestone that reflects the continued importance both countries place on bilateral ties and on working together positively to bring tangible benefits to their peoples.
Datuk Seri Anwar had arrived in Singapore on Sunday for the retreat, the first between him and PM Lee and also the first since the Covid-19 pandemic.
On the Johor-Singapore Special Economic Zone, which he called a “substantial and promising project”, PM Lee said there is currently a feasibility study to see what the two countries want the project to focus on, and to look into where there is interest from investors and market demand.
The zone may come with special tax arrangements and other initiatives to improve the flow of goods across borders, he added.