ISKANDAR PUTERI: A proposed direct route from the Second Link Expressway to Forest City is part of an effort to transform the township into Johor's optimal financial hub ecosystem within the Special Financial Zone (SFZ) and fortify its role as Singapore's strategic partner.
Johor Menteri Besar Datuk Onn Hafiz Ghazi and the management of Forest City had discussed several proposals for SFZ initiatives to be implemented, as it serves as a catalyst for the broader Special Economic Zone (SEZ) agendas.
Also involved in the discussions were representatives from the State Economic Planning Unit and Iskandar Regional Development Authority (IRDA).
Onn Hafiz said among the proposals discussed today, included the construction of a direct route from the SecondLink Expressway to Forest City.
The Second Link Expressway is a 47-kilometre controlled-access highway that runs from Senai, near the Senai International Airport to the Malaysia–Singapore Second Link at Tanjung Kupang.
"Beside the proposed direct route, several other initiatives will soon be established to further market Forest City as a SFZ," Onn Hafiz said.
The menteri besar said in order to ensure a smooth cross-border travel experience, a multiple-entry visa system with expedited immigration lanes were also discussed.
"Under SFZ, there will be special tax and incentive packages, thus financial sectors under the banking, finance, capital markets, Fintech and innovation are being fine-tuned to achieve this goal," he said, adding it would also create more than 10,000 new job opportunities within a 10-year time frame.
Hospitals, international schools, and higher education institutions operating within Iskandar Puteri, have also expressed their interest in becoming a part of the SFZ ecosystem.
He said the SFZ initiatives are set to redefine the financial sector and create new opportunities for economic growth in Johor.
"These initiatives hold the potential to bring a significant transformation in cross-border economic cooperation and development.
"The state government supports these initiatives, viewing SFZ and SEZ as integral components in the quest to revive the economy.
"The synergy between SFZ and SEZ initiatives are expected to create a mutually beneficial relationship that will bolster the region's economic landscape.
"The two initiatives are designed to complement each other, ensuring that both Malaysia and Singapore stand to gain from this partnership.