ISKANDAR PUTERI: Seamless mobility and transportation connectivity are vital to ensuring that the newly-minted Forest City Special Financial Zone (SFZ) within the Johor-Singapore Special Economic Zone (JS-SEZ) will transform the economic landscape.
Transportation connectivity plays a crucial role in international business, as it facilitates business deals, meetings, and commercial activity.
Economist Lee Heng Guie projected that the SFZ will transform the economic landscape by attracting both foreign direct investment (FDI) and domestic direct investment (DDI).
However, there was a need to increase the flow of people and goods across the border, and back, to strengthen the business ecosystem and bolster economic growth in Johor, he said.
Lee, who has 30 years of professional experience in economics, stated that with effective execution, the collaborations are expected to strategically position Johor as an alternative investment hub, reigniting economic activity in the state.
"Working together with Singapore is a brilliant move. The synergy is strategic, complementary, and mutually beneficial for both parties," he said.
However, Lee said seamless mobility and transportation connectivity were crucial to realising the SFZ and SEZ agendas.
"Railways play a crucial role in transport systems, contributing to economic growth. The railways are a significant force in the changing patterns of human mobility."
Lee said advances in transportation have spurred global economic growth by reducing travel time and increasing the number of passengers.
The service is the best option to support the economic growth of Malaysia and Johor, especially the SFZ initiatives in Forest City, and the JS-SEZ.
The Singapore Business Federation reported that 93 per cent of Singaporean businesses see Johor as an attractive investment destination, with 50 per cent currently operating in the state.
Lee said the SEZ and SFZ foundation facilities development must be well executed to achieve the desired impact.
Meanwhile, Ho Chin Soon Research chief executive officer Ishmael Ho said efficient transportation was vital for SFZ, and the broader JS-SEZ initiatives, to be successful.
Ho, whose company is a local real estate consulting firm that has been involved in the planning of cities in Malaysia for the past 36 years, including Kuala Lumpur and Penang, stated that with efficient transportation, Johor's goal of becoming a developed state by 2030 could be realised.
Ho proposed a ferry route from Forest City to Tuas in Singapore to improve connectivity in the special zone, and effectively alleviate the pressure on the existing Customs clearance at checkpoints.
He also suggested that multiple ferry routes between Johor and Singapore be established, which is feasible given Johor's geographical advantages.
A subject matter expert seminar was held on Thursday for them to share their observations and research findings.
The seminar, organised by Forest City, was for business players to explore SFZ and JS-SEZ opportunities, understand their direction, and identify potential businesses, as well as formulate talent attraction and retention strategies.
Over 800 business players from Kuala Lumpur, Johor, Penang, and Singapore attended the seminar.