According to the Free Zones Act of 1990, a region in Malaysia that has been designated as a free zone by the government is known as a ‘free zone’.
The Free Zone will act as a designated area for businesses to conduct commercial and industrial activities under the direction of the Ministry of Finance.
Malaysia has established several free trade zones (FTZs) to promote international trade and attract foreign investment.
These FTZs offer various incentives and benefits to businesses operating within their boundaries. Here are some of the notable free trade zones in Malaysia:
Port Klang Free Commercial Zones (FCZ): Located in Port Klang, Selangor, PCZ is one of the largest and busiest free trade zones in Malaysia. It is a fully integrated logistics and industrial hub with facilities for manufacturing, warehousing, and distribution activities.
Bayan Lepas Free Industrial Zone (FIZ): Situated in Penang, the Bayan Lepas FIZ specializes in high-tech industries, including electronics, electrical appliances, and telecommunications. Many multinational companies have set up their manufacturing facilities in this zone.
These free trade zones provide benefits such as tax incentives, simplified customs procedures, streamlined regulatory processes, and excellent infrastructure.
It aims to attract foreign direct investment, promote export-oriented industries, and foster economic growth in Malaysia.
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