Question

Mr Yip Hon Weng: To ask the Deputy Prime Minister and Minister for Trade and Industry (a) how does the Ministry assess the impact of the Johor-Singapore Special Economic Zone on the occupancy rates of Singapore's business parks; and (b) what strategic measures are being considered to enhance the competitiveness of our business parks in light of this regional development.

Written Answer by Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong

1. Overall occupancy for Singapore’s business parks remains healthy at 77.9% as of Q4 of 2024 and broadly in line with previous trends. It is premature to comment on the impact of the Johor-Singapore Special Economic Zone (JS-SEZ) on the occupancy rates of Singapore’s business parks.

2. Singapore and Johor are working together on the JS-SEZ for win-win outcomes. We will jointly attract new investments to the JS-SEZ, some of which will invest in Singapore and benefit our economy and people. Singapore firms can also expand and grow their businesses by siting some of their operations in Johor, where for example there is more land available than in land-scarce Singapore.

3. The JTC Corporation will continue to develop and manage our industrial parks to keep up with economic trends and industrial transformation, as it has done over the decades.