Johor government aims to set up investment company in Singapore

Menteri Besar Hasni Mohammad said that Jico's main function was to improve and ease trade between Johor and Singapore.
Menteri Besar Hasni Mohammad said that Jico's main function was to improve and ease trade between Johor and Singapore.ST PHOTO: ALPHONSUS CHERN

ISKANDAR PUTERI (THE STAR/ASIA NEWS NETWORK) - The Johor state government is planning to set up the Johor Investment Company (Jico) in Singapore soon in an effort to boost bilateral relationships with its neighbour across the Causeway.

Menteri Besar Hasni Mohammad said that Jico's main function was to improve and ease trade between Johor and Singapore.

"We have brought forward our intention in setting up Jico in Singapore to Wisma Putra, the International Trade and Industry Ministry (Miti) and to the Malaysian high commissioner there.

"Jico will be headed by state civil servants, and this would be a good opportunity for them to gain experience working within an international area," he told reporters after the opening of Johor state assembly on Thursday (May 14).

On the state government's plan to review and strengthen the Singapore-Johor-Indonesia (Sijori) growth triangle, Datuk Hasni said he has already informed Prime Minister  Muhyiddin Yassin, who he said supported the idea.

"We will be having our first discussion on the matter after Hari Raya Aidilfitri, which would involve representatives from these two countries, " he added.

Sijori was launched in December 1989 and is a tripartite agreement between Singapore, Johor (in Malaysia) and Riau (in Indonesia) that seeks to exploit the competitive strengths of the three areas, and make the sub-region attractive to regional and international investors.

The growth triangle links the logistics, transport and financial facilities of Singapore with the natural and labour resources of Johor and Riau.

The development of the growth triangle is largely led by the private sector, with the government facilitating the flow of goods, services, investments and people.