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JOHOR BAHRU: The Johor state government will establish an investment company in Singapore to improve trade ties between the two sides, Chief Minister Hasni Mohammad said on May 14.
At a press conference, Hasni said the state-owned company, called the Johor Investment Company (JICO), will soon establish an office in Singapore.
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“It is not an office where we deal with matters related to diplomatic relations, but rather an office for our state administrators to improve commercial relations,” he said.
“It will be a host for collaboration in all aspects, especially the technical exchange of ideas for the mutual interest of both Johor and Singapore,” he added.
Hasni stressed that working in the office will benefit state officials by giving them the opportunity to “experience working in an international environment.”
He added that this would increase Johor’s potential to attract investment.
READ: Singapore confident of ‘constructive and mutually beneficial relationship’ with Malaysia under new Prime Minister Muhyiddin: Balakrishnan
Hasni, who is also Benut’s state assemblyman, said the state government has informed the federal government of its plan to establish JICO in Singapore.
He said that the Malaysian Ministry of Foreign Affairs, the Ministry of International Trade and Industry, as well as the Malaysian High Commission in Singapore have also been notified.
During the same press conference, Hasni stressed that the state government will review the previous cooperation of the Singapore-Johor-Indonesia (Sijori) growth triangle.
He said that Prime Minister Muhyiddin Yassin supported the decision and that the Johor state government will meet with representatives of Singapore and Indonesia after the Hari Raya Aidilfitri celebrations to discuss the matter.
Sijori was established in 1994 when Johor was under the administration of Barisan Nasional (BN).
It was established between Indonesia, Malaysia and Singapore, to strengthen economic ties between the three countries.
The cooperation aims to link Singapore’s logistical, transport and financial strengths with the natural and labor resources of both Johor and Riau province.
