The government has approved Forest City in Johor as a Duty-Free Island to support tourism and local economic activities.
Prime Minister Dato Seri Anwar Ibrahim said this during the presentation of Budget 2025 in Parliament today (October 18).
This comes after the Johor Singapore Special Economic Zone (JSSEZ) Memorandum of Understanding (MOU) was signed in January 2024, marking a great achievement of economic cooperation between Malaysia and Singapore.
A tax incentive package for the Forest City Special Financial Zone was also announced to boost finance service activities such as financial global business services and Fintech.
You can check out his presentation on Budget 2025 here. Do stay tuned for more updates.
This post first appeared on WORLD OF BUZZ.