The Bagan MP says the state is in an ideal position as it is the country’s top manufacturing hub.
Bagan MP Lim Guan Eng says Penang has critical mass and a mature manufacturing industry for it to be made a special financial zone.
Forest City in Johor was declared the first SFZ by the prime minister with hopes of lowering the cost of doing business and boosting the state’s economy. “With a 15% tax rate and multiple entry visas , it would attract high skilled talent and stem the brain drain of talented Malaysians,” he said during the debate on the 12th Malaysia Plan mid-term review today.
He said the government should fund the construction of the Pan Island Link 1 highway to cut down crippling traffic on the island.
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