0659 GMT - Malaysian government's incentive package for Forest City Special Financial Zone aligns with broader initiatives for the Johor-Singapore Special Economic Zone and Johor state's goal to become a developed state by 2030, UOB economists Julia Goh and Loke Siew Ting say in a note. These efforts could support national plans to transform the economy, with more details expected in Budget 2025 and the final Johor-Singapore SEZ agreement by November, they say. The Johor Singapore SEZ will likely be closely linked to the Forest City special financial zone, and promote investment, job creation and development in Johor. Forest City aims to become a global financial hub and foster cooperation with Singapore similar to Shenzhen-Hong Kong, while the Johor Singapore SEZ will focus on high-tech manufacturing industries, UOB says. (yingxian.wong@wsj.com)
(END) Dow Jones Newswires
September 23, 2024 02:59 ET (06:59 GMT)
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