First Malaysian SEZ Launched

8/4/2009 —
Malaysia’s first Special Economic Zone was launched by the Malaysian Premier, Najib Tun Razak, on Tuesday. He added that it would be “Asia’s biggest”.
Located on the east coast in Pahang state, it has a target to bring in investments worth RM90 billion and create 220,000 jobs by 2020.
The SEZ, covering an area measuring 25 km by 140 km, would attract more investments to the East Coast Economic Region (ECER), giving a boost to economic activities in the area.
Investors of SEZs have various incentives like a 10-year tax exemption, 100% investment tax allowance, and exemptions from import and export duties.
SEZs are aimed at boosting the recession-hit Malaysia.