Johor Baru's Special Financial Zone special incentives to be finalised in August

JOHOR BARU: Special incentives for the Special Financial Zone (SFZ) here are expected to be finalised in August, says Johor Mentri Besar Datuk Onn Hafiz Ghazi.

Onn Hafiz said this was discussed during a meeting with Finance Minister II Datuk Seri Amir Hamzah Azizan in Putrajaya on Friday (June 7).

"The special incentives for the SFZ in Forest City will be finalised in August this year.

"I am very pleased with the development and work progress from all parties involved.

"The commitment and cooperation proved that we are truly serious about developing the country and Johor," he said in a statement on Facebook.

The Mentri Besar also thanked Prime Minister Datuk Seri Anwar Ibrahim for supporting the SFZ.

In May, Onn Hafiz said the Finance Ministry would announce incentive packages for the Forest City Special Financial Zone (SFZ) in the coming months.

Onn Hafiz said SFZ management had submitted a detailed implementation proposal in February following Anwar’s announcement to set up the zone in Forest City on Aug 25.