GEORGE TOWN: The state government has no details on the proposal to create a special financial zone (FZ) in Penang, says Chief Minister Chow Kon Yeow.
He added the state government has no information on the proposal which focuses on the northern region, just like the one in Forest City, Johor.
On Wednesday , during the debate on the 12th Malaysia Plan mid-term review, Bagan MP Lim Guan Eng said Penang now has reached critical mass with a mature manufacturing industry base, which will drive development and boost the growth of the services sector, not only in the northern region but for the whole country as well.
"We do not object to the allocation given, but we have to help all states and I hope the Federal Government will give consideration to development in Penang as this state is the country’s largest export contributor," he said. He added that the cost of doing business in this special financial zone was more affordable, aided by several incentives provided by the government.
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