Speaking at a conference in Singapore, Onn Hafiz said the timeline for both sides to ink the agreement had been delayed due to leadership meetings.

“It’ll be signed hopefully by November,” he said, adding that officials were ironing out the details of the definitive agreement.

“All relevant parties, decision makers, are coming on board to make sure this happens,” he said.

Malaysia and Singapore signed a memorandum to develop the economic zone in January this year, aiming for the free movement of goods and people between the resource-rich state of Johor and land-constrained Singapore.

November would constitute a delay from earlier assessments. Malaysia’s economy minister Rafizi Ramli had said in July “both sides should be able to sign a deal” and unveil the zone in September.

Johor officials have said the SEZ could create as many as 100,000 new jobs in the state and bolster the Malaysian economy by about US$26 billion per year by 2030.