Singapore and Malaysia discuss MOUs in areas of higher education and business development funds

PM Lee and PM Anwar have reaffirmed their strong commitment to the annual Leaders' Retreat as a platform to enhance bilateral cooperation.

Prime Minister of Singapore Lee Hsien Loong and Prime Minister of Malaysia Dato’ Seri Anwar Ibrahim recently met in Singapore on 30 October 2023 (Monday) for the 10^th Singapore-Malaysia Leaders’ Retreat.

On the occasion of this milestone, both PMs reaffirmed their strong commitment to this annual engagement platform to discuss ways to enhance bilateral cooperation and issues of mutual concern —this being their first Retreat together and the first Retreat that Singapore and Malaysia have held since the COVID-19 pandemic.

Recognising the deep geographical, historical, and economic links that underpin bilateral ties, the leaders acknowledged the importance of the longstanding and multi-faceted relationship between both countries, guided by principles of mutual respect and trust. Both reiterated their commitment to deepening cooperation in traditional pillars, expanding collaboration in emerging areas, and resolving any issues of concern in an amicable and constructive manner.

With Singapore and Malaysia enterprises enjoying close ties and complementary partnerships, both PMs witnessed the signing of a side letter to update the Malaysia-Singapore Business Development Fund (MSBDF). This will provide funding support for Singapore and Malaysia enterprises to jointly pursue opportunities in third countries and conduct joint pilots in each other’s countries, especially in emerging areas such as green economy and digital economy.

Notably, the leaders took note of the Memorandum of Understanding (MOU) on Collaboration on Development of Malaysia and Singapore SMEs signed between Enterprise Singapore and SME Corporation Malaysia. At the same time, the leaders welcomed the progress made on the prior MOU on Personal Data Protection, Cybersecurity and Digital Economy signed in January 2023. 

Other than that, both PMs expressed their satisfaction with the ongoing cooperation under the purview of the Joint Ministerial Committee for Iskandar Malaysia (JMCIM) and welcomed the progress made by the respective industrial cooperation, immigration, transportation links, innovation, tourism, and environment work groups.

The leaders noted the establishment of a special taskforce under JMCIM to study a Johor-Singapore Special Economic Zone (JS-SEZ) and the progress update provided by the taskforce at the Retreat. The JS-SEZ aims to tap into the complementary strengths of both countries to foster economic connectivity by improving cross-border flows of goods, investments, and people. With this, the leaders welcomed plans to work towards an MOU on the JS-SEZ to be signed in January 2024.

In terms of education, both PMs also shared that an MOU in the field of higher education is currently being discussed by Singapore’s Ministry of Education and Malaysia’s Ministry of Higher Education. This MOU aims to strengthen student and faculty exchanges, encourage exchange of scholarships between recognised higher education institutions, and promote the sharing of information and experiences in technical and vocational education and training (TVET) and other aspects of higher education, including training programmes for administrators and academic staff.

Lastly, the leaders commended efforts by the innovation work group to deepen the links between the start-up networks of both countries, encourage activities to accelerate the development of start-ups in both countries, and exchange knowledge on talent cultivation and emerging technologies such as autonomous vehicles and drones. Malaysia’s Ministry of Science, Technology and Innovation (MOSTI) and the Iskandar Regional Development Authority (IRDA) will be showcasing start-ups from Malaysia in this year’s Singapore Week of Innovation and Technology (SWITCH). These initiatives aim to enhance human capital in both countries, strengthen ties between their peoples, and enhance collaboration on innovation.

 Some other takeaways from the Retreat:

• Both leaders reaffirmed their commitment to improve connectivity between Singapore and Malaysia and ease congestion at the land borders. They encouraged officials from both countries to continually exchange ideas to improve the efficiency and experience of cross-border travel for their peoples.
• Both leaders also welcomed the efforts made by agencies from both countries to address congestion at the land border and noted Singapore’s plans to redevelop Woodlands Checkpoint to further smoothen cross-border movement of people and goods.
• As both countries work towards a low-carbon future, the leaders affirmed the commitment to collaborate on renewable energy co-development and cross-border electricity trading.

The Leaders agreed to hold the 11^th Retreat in Malaysia in 2024.

Photo: PMO Singapore's newsroom