19th Joint Meeting of the Malaysia-Singapore Business Council sees closer business collaboration between Malaysia and Singapore
- Sabah Economic Development and Investment Authority (SEDIA) and the Sarawak Regional Corridor Development Authority (RECODA) showcased the untapped investment potential in East Malaysia.
- Singapore Manufacturing Federation and Standards Malaysia affirm support for sharing of standards development, accreditation and compliance process.
22 February 2019 [Singapore] - Business relations between Malaysia and Singapore were strengthened at the 19th Joint Meeting of the Malaysia-Singapore Business Council (MSBC) on 20 February at the SBF Center. The meeting was co-chaired by YBhg Datuk Seri Dr Nik Norzrul Thani, Chairman and Senior Partner of Zaid Ibrahim & Co. and Dr Robert Yap, Executive Chairman of YCH Group.
Established in July 2004 to promote business and investment activities between Singapore and Malaysia, the MSBC provides the business communities of both countries a platform to initiate joint projects for the mutual benefit of their sectors.
At the 19th Joint Meeting, the Sabah Economic Development and Investment Authority (SEDIA) and the Sarawak Regional Corridor Development Authority (RECODA) showcased the vast untapped investment potential in East Malaysia.
To facilitate win-win cooperation in the implementation of Industry 4.0 in Malaysia, the Malaysian Trade Commission and Malaysian Investment Development Authority (MIDA) in Singapore also updated businesses from both countries on Malaysia’s Industry4WRD Policy, a four-pronged strategy to boost Malaysia’s manufacturing sector via higher productivity, contribution, innovation and more high-skilled workers.
Representatives from the Network for Electronic Transfers (Singapore) Pte Ltd (NETS) provided an update on the progress of the Asian Payment Network (APN) platform with the aim to interconnect real-time payment throughout the region.
The Council also set in motion the standardisation of manufacturing standards between Singapore and Malaysia. Singapore Manufacturing Federation’s Standards Development Organization (SMF-SDO) and Standards Malaysia both affirmed their support to facilitate Singapore-Malaysia bilateral cross border trade through sharing of each other’s standards development, accreditation and compliance process.
YBhg Datuk Seri Dr Nik Norzrul Thani said, “Singapore-Malaysia business ties remain robust and the Council is committed to strengthening bilateral business cooperation in areas of mutual interest.”
Expressing his support, Dr Robert Yap said, “It’s encouraging to see the business communities from both countries actively sharing ideas and initiatives to promote closer business collaboration.”