Johor Bahru, Sept 16 – Forest City’s Special Financial Zone (SFZ) is set to launch this Friday, aiming to invigorate Johor’s economy with a range of investment incentives and packages. The event, expected to be graced by Finance Minister II Datuk Seri Amir Hamzah Azizan, will detail how these new measures will stimulate economic activities in the region.
Johor Investment, Trade, Consumer Affairs, and Human Resources Committee chairman Lee Ting Han announced that the SFZ would offer attractive incentives to finance and insurance companies. This initiative, first revealed by Prime Minister Datuk Seri Anwar Ibrahim on August 25 last year, is part of a broader strategy to enhance economic growth in Johor and neighboring areas.
The move comes as Johor continues to make substantial contributions to Malaysia’s export sector. In July 2024, Johor’s exports hit RM5.2 billion, driven by key sectors such as petrochemicals, chemicals, electricity and electronics (E&E), and non-metallic materials. Johor’s industrial areas, including Pengerang, Pasir Gudang, and Tanjung Langsat, are crucial to these sectors.
Overall, Johor, Selangor, and Penang are leading Malaysia’s export performance, contributing 70.6% of the country’s total exports in July 2024. This economic surge, with Johor playing a pivotal role, underscores the state’s growing importance as a regional economic powerhouse.
Source: MalayMail- Johor says Forest City’s special financial zone set for launch Friday
Malaysia