UOB and Invest Johor Launch Green Lane to Accelerate Investments in JS-SEZ
UOB has officially launched a Green Lane in collaboration with Invest Johor to fast-track investments into the Johor-Singapore Special Economic Zone (JS-SEZ). This initiative is a significant step forward in strengthening cross-border trade and investment between Singapore and Malaysia. The Green Lane launch follows the Memorandum of Understanding (MoU) signed between UOB and Invest Johor at the 2024 ASEAN Conference last August.
Streamlining Investments Through the Green Lane
The Green Lane was introduced during a Johor business mission at Sunway Hotel Big Box. This event was organized by the Singapore Business Federation (SBF) and received joint support from UOB, Rajah & Tann, and RSM Singapore. The primary goal of the Green Lane is to accelerate investment approvals for businesses looking to expand into the JS-SEZ.
Under the agreement, UOB will be responsible for conducting pre-qualification assessments for its clients applying for Johor’s Super Lane approval. These assessments are based on specific criteria established by Invest Johor. By taking on this role, UOB significantly reduces the processing turnaround time, making investment entry into JS-SEZ more efficient and seamless.
Additionally, UOB has introduced a Fast Lane Account Opening service, designed specifically for its Singapore-based clients expanding into the JS-SEZ. This initiative ensures Investments that businesses can quickly open accounts, thereby reducing administrative bottlenecks and improving the ease of doing business. To further enhance the experience, UOB has also established dedicated JS-SEZ Desks in both Johor and Singapore. These desks provide businesses with tailored financial solutions, assistance with account openings, and advisory support for market entry strategies.
First Client Under the Green Lane: Gold Peak Technology Group
A major highlight of the Green Lane launch was the introduction of its first client, Gold Peak Technology Group. During the event, Michael Lam, Executive Director and Managing Director of Gold Peak, presented a Letter of Intent (LOI) to Natazha Hariss, Chief Executive Officer of Invest Johor. The official ceremony was attended by key dignitaries, including:
- YAB Dato’ Onn Hafiz bin Ghazi, Menteri Besar of Johor
- YB Lee Ting Han, Johor State EXCO Member for Investment, Trade, Consumer Affairs, and Human Resources
- Ms. Ng Wei Wei, Chief Executive Officer of UOB Malaysia
- Mr. Victor Lo, Chairman of Gold Peak Malaysia
- Mr. Sam Cheong, Head of Group Foreign Direct Investment Advisory, UOB
YAB Dato’ Onn Hafiz emphasized the significance of the JS-SEZ in fostering trade and investment opportunities between Johor and Singapore. “Since the signing of the Johor-Singapore Special Economic Zone (JS-SEZ), we have witnessed remarkable Investments progress in strengthening Investments cross-border trade and investment opportunities. Our partnership with UOB has gained strong momentum, reinforcing our shared vision of creating a seamless and thriving investment ecosystem within the JS-SEZ. This collaboration is a testament to our commitment to turning vision into action,” he said.
He further highlighted that Gold Peak Technology Group’s investment aligns with Johor’s long-term economic vision, Maju Johor 2030. The group’s investment will bring cutting-edge manufacturing capabilities, create high-quality employment opportunities, and contribute to sustainable economic growth in the region.
Gold Peak’s RM670 Million Investment in JS-SEZ
UOB will play a pivotal role in facilitating Gold Peak’s entry into the JS-SEZ, providing advisory services, cross-border banking solutions, and financial support. Gold Peak is a leading global company specializing in battery technology and energy storage solutions. Listed on the Hong Kong Stock Exchange, the company Investments is well-known for its commitment to sustainability and innovation in green energy.
Gold Peak’s proposed investment in JS-SEZ is estimated to be RM670 million (approximately US$150 million). The investment will be used to establish a state-of-the-art manufacturing and research and development (R&D) facility in Johor. This facility will focus on producing next-generation battery technologies, with a primary emphasis on sustainable energy storage solutions for data centers across Southeast Asia.
The establishment of Gold Peak’s new facility is expected to create approximately 150 to 180 high-value jobs. These employment opportunities will not only contribute to Johor’s socio-economic development but also drive innovation within the region. Additionally, the investment aligns with one of the 11 key sectors that the JS-SEZ aims to promote.
UOB’s Commitment to JS-SEZ Growth
Since signing the MoU with Invest Johor six months ago, UOB has been actively working to fulfill its commitments. According to Ms. Ng Wei Wei, CEO of UOB Malaysia, the bank has successfully facilitated investments into targeted sectors, streamlined processes to accelerate investment approvals, and collaborated with both the Johor Government and the Malaysian Investment Development Authority (MIDA) to promote JS-SEZ through a new promotional video.
“We are proud to have played a significant role in bringing this potential investment from Gold Peak Technology Group. This LOI is significant as it reflects a growing interest and confidence among investors in the potential of the JS-SEZ,” Ms. Ng stated.
She also emphasized UOB’s continued efforts to enhance the region’s investment ecosystem by providing tailored financial services, supporting businesses in their cross-border expansion, and ensuring a smooth investment journey for companies looking to establish their presence in Johor.
Advancing Green Energy and Innovation
Gold Peak’s investment marks a crucial milestone in advancing sustainable energy solutions within Southeast Asia. The company’s new facility in Johor will serve as an innovation hub for battery technology and energy storage, reinforcing its commitment to “Powering A Greener Tomorrow.”
According to Michael Lam, Executive Director and Managing Director of Gold Peak, sustainability remains a core principle of the company’s operations. “We are very honored to become UOB’s first client under the Green Lane. Gold Peak Technology Group, a leading global Investments battery manufacturer, is committed to sustainability as a core principle of our operations. We strive to be at the forefront of the industry in green production,” he stated.
He further added that sustainable energy solutions are a key business initiative for Gold Peak, and the company is heavily investing in research and development to drive innovation in this space. “As we rebalance our manufacturing capabilities Investments in the region, the Johor-Singapore SEZ presents a strategic opportunity for us to expand our footprint in Southeast Asia. With the support from UOB and Invest Johor, our future facility will serve as a hub for innovation in battery technology and energy storage,” Lam explained.
A New Era for Johor-Singapore Investment Collaboration
The launch of the Green Lane signifies a new era of investment collaboration between Johor and Singapore. By streamlining investment approvals and facilitating faster market entry, the initiative is expected to attract more high-value, future-ready investments to the JS-SEZ.
As Johor continues to position itself as a premier destination for innovation, industry, and sustainable development, the Green Lane is set to play a Investments crucial role in accelerating economic growth, enhancing business competitiveness, and strengthening cross-border trade relations.
With UOB leading the charge in financial facilitation and strategic advisory, and Invest Johor providing a conducive investment environment, the JS-SEZ is well on its way to becoming a globally competitive economic hub that aligns with Malaysia’s long-term development goals.
