KUALA LUMPUR, July 11 (Xinhua) -- The proposed Johor-Singapore special economic zone (SEZ) is drawing interest from investors seeking to use it as an entry point into the Southeast Asian region, according to Malaysian Economy Minister Rafizi Ramli.

Speaking to reporters on the sidelines of an investment forum for the SEZ, Rafizi noted that ASEAN is growing in importance as a market. "The SEZ aims to provide the best of both worlds, offering investors the sophistication of Singapore and the cost and resource benefits of Johor," he said on Wednesday.

Malaysia and Singapore signed a memorandum of understanding to jointly develop a special economic zone in Johor state which borders Singapore in January this year, with the aim of strengthening economic connectivity between the two regions.

Rafizi added that the processes to finalize the details of the SEZ will be completed by September with a final agreement set to be signed by the leaders of both countries.

Among the features of the SEZ will be a passport-free immigration system as well as collaborations on renewable energy and streamlining business approvals. Enditem

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