Special financial zone to be created in Forest City

  • The federal government is to create a special financial zone in the Forest City property development area in Iskandar Puteri, in an effort to stimulate investment and economic growth in Johor.
  • Anwar announced several incentives such as the extension of incentives in Iskandar Malaysia to the Forest City area, including a special income tax rate of 15% for skilled workers and the provision of multiple-entry visas.
  • He said the creation of the zone could attract more investors with Johor’s strategic location next to neighbouring Singapore, the availability of a complete basic infrastructure, and with costs in Singapore currently considered high.
  • “The synergy that exists in Johor is different from other states and (we) can take advantage of Singapore’s achievements,” he said.

External Link : https://www.freemalaysiatoday.com/category/nation/2023/08/25/special-financial-zone-to-be-created-in-forest-city/