RM4bil projects in Iskandar region
Posted on | March 23, 2007
By THE STAR
KUALA LUMPUR: The Iskandar Development Region (IDR) is finalising a RM4bil investment for one of its zones and details would be announced in the third quarter.
To spearhead the development of hubs within the IDR, certain zones within its flagship zones requiring billions of ringgit in investment will be granted special incentives.
The location of those zones and other details would be announced by the Iskandar Regional Development Authority (IRDA) in the third quarter, an IRDA statement said yesterday.
With IDR drawing foreign direct investments worth a projected US$40bil in the first seven years, the Government has committed more than RM4bil towards infrastructure development in the region.
The Government also announced a slew of incentives for qualified companies and this include corporate tax exemption for 10 years.
Foreign workers in IDR would be able to import or purchase a duty-free car for their personal use.
While companies will be free to employ foreign workers within the IDR, IRDA expects Malaysians to make up the majority of the workforce there.
“The Comprehensive Development Plan projects that 817,500 jobs will be created in the region up to year 2025.
“Companies undertaking activities in sectors other than the targeted sectors will continue to be eligible for the existing incentives,” IRDA said.
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