The beleaguered city development has been labelled a “smuggling hub” by local media under its current “duty-free area” status.
This aerial photo shows a general view of condominiums at Forest City, a development project launched under China's Belt and Road Initiative in Gelang Patah in Malaysia 's Johor state. SINGAPORE: A 770-acre islet in Johor ’s beleaguered Forest City will officially become a duty-free island, which will see it enjoy special tax provisions to boost economic growth in the area.
They are the Customs Bill 2024, Excise Bill 2024, Free Zones Bill 2024, Sales Tax Bill 2024, and Service Tax Bill 2024. Several members of parliament participated in the debate on the Bills, which were met with some pushback and queries. Forest City is currently classed as a duty-free area, a status it was granted in 2016. With the recent Bills amendment, Pulau Satu’s status will change and it will be gazetted as a duty-free island.
Last August, Mr Anwar announced during a visit to Johor that the Forest City project would be designated as a special financial zone to spur the economy in the Iskandar Malaysia region.
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