Malaysia to launch special financial zone in Forest City to woo investments, stimulate economic growth
Analysts expect a slew of fiscal and non-fiscal incentives to lure more residents and human capital to reinvigorate the mixed development project
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[KUALA LUMPUR] Forest City in Johor is set for a revival as the Malaysian government prepares to launch a special financial zone (SFZ) aimed at revitalising the area with an array of fiscal and non-fiscal incentives.
The launch, taking place on Friday (Sep 20), will introduce a slew of incentives designed to attract investment and stimulate economic growth, and promises to create vibrancy in Forest City. The launch event will be attended by Malaysia’s Second Finance Minister Amir Hamzah Azizan.
Analysts anticipate that the forthcoming incentives will include corporate tax exemptions and special rates tailored to approved economic activities, alongside preferential income tax rates for high-skilled labour. Additionally, they expect stamp duty waivers, as well as a reduced rate for instruments of transfer for properties and shares.
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