JOHOR BARU, Oct 15 — The Budget 2024 stimulates the development of the sectors that are being promoted by Iskandar Malaysia as an economic region, particularly tourism,...
A general view of empty newly-built homes at Kota Iskandar in Johor February 4, 2015. Iskandar Regional Development Authority chief executive Datuk Badrul Hisham Kassim said Budget 2024 stimulates the development of the sectors that are being promoted by Iskandar Malaysia as an economic region, particularly tourism, creative industries, finance, business services and modern agriculture.
“The economic restructuring, focusing on future-oriented investments in high-growth high-value sectors, aligns with one of the main focuses in the Iskandar Malaysia Comprehensive Development Plan 2022-2030.“The designation of 2026 as Visit Malaysia Year with an allocation of RM350 million to boost tourism promotions and activities allows Iskandar Malaysia and Johor to play a role as an international tourism gateway based on its proximity to Singapore,” he said in a statement today.
“This is supported by an allocation of RM160 million to implement various initiatives to benefit artists, including the Digital Content Fund, Film in Malaysia Incentive and MyCreative Matching Grant Scheme,” he said.He said the economic region also benefitted from the financial and business services sector through the Global Service Hub tax with an incentive income tax rate of five per cent or 10 per cent based on performance for up to 10 years.
Meanwhile, Badrul Hisham said Iskandar Malaysia is ready to intensify its “green” efforts and position the region as a leader in environmental conservation and preservation.
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