UOB and Invest Johor Introduced 'Green Lane' to Boost JS-SEZ Investments

United Overseas Bank (UOB) has introduced a "green lane" in collaboration with Invest Johor, the investment agency of the Malaysia, to expedite investments in the Johor-Singapore Special Economic Zone (JS-SEZ).

The "green lane," introduced during a Johor business initiative at Sunway Hotel Big Box on February 19, is a product of the memorandum of understanding (MOU) established at the 2024 Asean conference in August of the previous year.

As per the agreement with Invest Johor, UOB will perform the pre-qualification evaluation for its clients' requests for the "super lane" authorization in Johor, following the criteria established by Invest Johor.

According to Johor Menteri Besar Dato’ Onn Hafiz Ghazi, the Johor Super Lane, which was announced under the Johor Budget 2025, is meant to “streamline processes and enhance the ease of doing business in Johor”.

During the ceremony, UOB unveiled its first client under the “green lane,” Gold Peak Technology Group, a provider of battery technology and energy storage solutions listed in Hong Kong. Michael Lam, the executive director and managing director of Gold Peak Technology Group, delivered a letter of intent (LOI) to Natazha Hariss, CEO of Invest Johor. Gold Peak intends to invest RM670 million ($202.4 million) in the JS-SEZ, which includes the creation of a cutting-edge manufacturing and research and development facility for the production of batteries utilizing next-generation technologies.