KOTA ISKANDAR: Prime Minister Datuk Seri Anwar Ibrahim has designated the Forest City project as a special financial zone to stimulate economic development in Iskandar Malaysia. He revealed that various incentives would be provided including multiple entry visas, fast track entry for Singaporean workers, and a flat income tax rate of 15% for knowledge workers. During his tour to gather feedback on the 2024 Budget, Anwar stated that these measures would contribute to the growth of healthcare, education, and tourism sectors.
Anwar highlighted that the incentives announced for Forest City would be in addition to the newly introduced benefits. He expressed confidence in the ability of these incentives to attract companies that face high operational costs in Singapore. Additionally, he emphasized that the cost of housing and education in Singapore was also a major concern. Anwar directed the Immigration Department to investigate the matter.
Recognizing the geographical proximity of Johor to Singapore, Anwar stressed the potential for collaboration between Malaysia and the island republic, rather than competing with each other. This collaboration would enable both nations to benefit from each other’s strengths.
Credit: The Star : News Feed
