Right Approach to Iskandar Development Region

IDR--MUCH HYPE TO ATTRACT SINGAPORE INVESTORS UNNECESSARY

If the Iskandar Development Region in Johor is meant for Singapore Investors, then I think the amount of publicity and promotional effort and money going into it will be a waste. There isn’t any need to hype the attractiveness of Johor as an investment haven for Singaporean because traditionally Johor had been an immediate lure to Singapore investors. In the 60s and 70s any successful SME business in Singapore would have a branch in Johor Bahru without publicity and promotion. Then the on-and-off policy shifts that followed forced many Singaporean investors to sell their factories, law offices and accountancy firms cheaply to Malaysians while they packed and went back.

One thing about Singaporean investors is that they never blame their own government for their misjudgment in their investment decision. Be it their condo in JB looted to the brick walls, or losses from their CPF investments in stocks and shares, or the failed ventures in ostrich farming, they took it in their stride as bad investment decisions.

But now we are hearing that a special ministerial committee between Malaysia and Singapore will be formed to oversee the Iskandar Development Region (IDR). What this means is that should there be vagaries in Malaysian policies as what happened before, then the Singapore government would be involved for getting their people’s fingers burnt. It would mean that Singaporean would clamour for their government’s intervention. If the Malaysian side then talk like they did in the “bocor” issue, then the Singapore Government would be forced to act. With so many issues still outstanding between the two countries especially the life-giving waters, Singapore would be tempted to make the “Mersing Line” a reality. (There is a discerning sign that Malaysia would be willing to sell sand to Singapore to make it grow bigger and not to look north for expansion).

Let’s forget the “big talk” and the spending of “big money” for Iskandar Development Region. Just be consistent with our policies and do more than just talk. Deeds speak louder the words.

Simon Wee