JOHOR BARU, Sept 1 — The government will need to take fast action to boost Forest City here as a special financial zone so that it will not lose out to neighbouring countries...
JOHOR BARU, Sept 1 — The government will need to take fast action to boost Forest City here as a special financial zone so that it will not lose out to neighbouring countries that are aiming for the “same slice of the pie”.
“The Prime Minister had mentioned giving incentives and seeing of it , so do it fast. It will stimulate development and have spillover effects, as well as provide opportunities for small and medium enterprises,” he told Bernama when contacted here recently. “It aims to increase foreign investment and boost economic development in the Forest City area which has been seen to be hit by negative perspective in recent years,” she said.
“Secondly, the 15 per cent tax incentive given to skilled workers will open new industrial sectors in the area such as new energy and data centres,” she said. “In addition, the government can give other incentives to Johor, such as policies to encourage new industries for example high technology and new energy as well as incentives for new innovation efforts,” she added.
“Forest City is now in phase two, according to the development action plan. Our focus at this stage is to explore more investment opportunities. The Prime Minister’s announcement is believed to benefit the economy of Johor and the region as a whole,” Forest City vice-president Syarul Izam Sarifudin said in the statement.
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