Malaysia and Singapore leaders have signed an agreement to create a special economic zone to attract global investment and ease the cross-border flow of goods and people

Malaysia has announced a tax incentive package to draw investment to its newly minted special economic zone with Singapore. The tax breaks are designed to bring high-value investments into Johor, the Malaysian state housing the special zone,

Malaysia will offer a slew of tax incentives for companies and workers in its special economic zone with Singapore in the southern state of Johor, its finance ministry said on Wednesday.

Malaysia and Singapore on Tuesday announced an agreement to establish a special economic zone on their border to boost investment and the movement of people and goods.