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MoF: Govt continues to support special border economic zone as planned

MoF: Govt continues to support special border economic zone as planned

15 Aug 2022

The government will continue to support the development of special border economic zones (SBEZ) as planned in order to encourage investments and accelerate economic development, said the Ministry of Finance (MOF).

Deputy Finance Minister II Yamani Hafez Musa said up to  June 2022, the DELAPAN project in an SBEZ had resulted in three property investment agreements sealed with a total value of  RM7.2 billion.

“The projects are the lorry deport and internal clearance development project by PKT Logistik Sdn Bhd (PKT) in December 2019; a nitrile glove project by Hartalega Bhd (Hartalega) in March 2021; and a data and internet exchange project in December 2021,” he told Dewan Negara.

He said the property development project in SBEZ Bukit Kayu Hitam, Kedah, which involves 11,800 acres of land, is a high impact initiative planned by both the federal and Kedah governments.

“The direct involvement by MOF in SBEZ Bukit Kayu Hitam is through Northern Gateway Sdn Bhd (NGX), a wholly owned entity of the Minister of Finance Inc, as the main developer of DELAPAN (formerly known as Kota Perdana) which involves an area of 4,400 acres, or 38 per cent of the total SBEZ Bukit Kayu Hitam area,” he added.

Source: Bernama