JOHOR BAHRU: The Johor-Singapore Special Economic Zone (SEZ), located 45 kilometres apart between Iskandar Puteri and Changi Airport, will strengthen Medini's position as a major investment destination.

Iskandar Investment Bhd (IIB) president and chief executive officer Datuk Idzham Mohd Hashim said the SEZ can draw value-added investments and further generate economic opportunities for Johor.

He said the state government's continuous efforts to strengthen investment initiatives and regional cooperation will also improve the people's socio-economic standing, via the Friendly Johor 3.0 and Johor Go Global 3.0 initiatives highlighted in the state's Budget 2024.

"IIB is committed to supporting and facilitating the specific needs of industries in Medini," he said in a statement on Wednesday, adding that IIB foresees global business services (GBS), technology and the M40 income group property market to grow in the next few years.

Johor Menteri Besar Datuk Onn Hafiz Ghazi said at Johor's Budget 2024 presentation last Thursday that Malaysia and Singapore are expected to sign a memorandum of understanding to establish SEZ on Jan 11, 2024.

IIB lauded the state government plans and initiatives outlined in Budget 2024 to empower homeowners via affordable housing.

He said IIB plans to build more affordable housing in Iskandar Puteri under the Wawari project to enable all levels of society to own houses at reasonable prices.

IIB has allocated RM2.5 million to support the electric vehicle pilot programme and three phases of green conservation with an allocation of RM5.3 million, he said.

"(Thus) in Medini, we are committed to providing more EV charging stations and to maintain about 40 per cent of green space," he said.

He said IIB also hopes to work with the Johor Sustainability Centre, launched during the Asia Pacific Climate Week 2023, as it aligns with IIB's Net Zero Carbon Central Business District (CBD) roadmap.

-- BERNAMA