Major Economic Zone Deal Delayed Between Malaysia and Singapore

The signing of a pivotal deal to establish a special economic zone in Johor, Malaysia, has been postponed to January due to Singapore Prime Minister Lawrence Wong's COVID-19 diagnosis. The project aims to enhance investment and ease commerce between Malaysia and Singapore through innovative measures.

Plans to finalize a critical agreement between Malaysia and Singapore, creating a special economic zone in Johor, Malaysia, have been put on hold until January, Malaysian Prime Minister Anwar Ibrahim announced on Wednesday.

The signing, originally scheduled for December 9 during the annual leaders' gathering, was deferred following Singapore Prime Minister Lawrence Wong's COVID-19 diagnosis, leading to his self-isolation. Wong shared his health status via a Facebook post, marking his first COVID-19 case.

In January, both nations committed to the development of the economic zone adjacent to Singapore. The project intends to foster investments and streamline trade logistics, proposing passport-free clearance, renewable energy collaboration, and simplified business approvals.

(With inputs from agencies.)