<p>Kuala Lumpur: Malaysia will offer tax breaks and incentives in a bid to lure investments to Forest City, a $100 billion development backed by Chinese developer Country Garden Holdings, state media reported on Friday citing the second finance minister.</p>.<p>Second Finance Minister Amir Hamzah Azizan said the incentives would include a concessionary corporate tax rate of between zero and 5%, special individual income tax rates of 15 per cent for skilled-workers and Malaysians working in the area, as well as a zero percent tax rate for family offices, state news agency <em>Bernama</em> reported.</p>.<p>"These incentives are expected to attract businesses, financial institutions, and high-net-worth individuals," <em>Bernama</em> quoted Amir as saying.</p>.Exploding pagers, walkie-talkies: A look at Mossad's key ops over the years.<p>The announcement comes as Malaysia's King Sultan Ibrahim visits China to court further support for infrastructure developments in the Southeast Asian country.</p>.<p>Forest City, a joint venture between the embattled Country Garden and a private Malaysian company backed by Sultan Ibrahim, has been beset by problems ranging from environmental to regulatory issues since its inception in 2016.</p>.<p>Malaysia designated Forest City as a special financial zone in August 2023 to boost foreign investment and economic growth in the area.</p>.<p>Built on four reclaimed islands in the southern Johor state next to Singapore, Country Garden has so far invested about 20 billion ringgit ($240 million) in the project, Forest City said last year. </p><p><em>($1 = 4.1780 ringgit)</em> </p>
<p>Kuala Lumpur: Malaysia will offer tax breaks and incentives in a bid to lure investments to Forest City, a $100 billion development backed by Chinese developer Country Garden Holdings, state media reported on Friday citing the second finance minister.</p>.<p>Second Finance Minister Amir Hamzah Azizan said the incentives would include a concessionary corporate tax rate of between zero and 5%, special individual income tax rates of 15 per cent for skilled-workers and Malaysians working in the area, as well as a zero percent tax rate for family offices, state news agency <em>Bernama</em> reported.</p>.<p>"These incentives are expected to attract businesses, financial institutions, and high-net-worth individuals," <em>Bernama</em> quoted Amir as saying.</p>.Exploding pagers, walkie-talkies: A look at Mossad's key ops over the years.<p>The announcement comes as Malaysia's King Sultan Ibrahim visits China to court further support for infrastructure developments in the Southeast Asian country.</p>.<p>Forest City, a joint venture between the embattled Country Garden and a private Malaysian company backed by Sultan Ibrahim, has been beset by problems ranging from environmental to regulatory issues since its inception in 2016.</p>.<p>Malaysia designated Forest City as a special financial zone in August 2023 to boost foreign investment and economic growth in the area.</p>.<p>Built on four reclaimed islands in the southern Johor state next to Singapore, Country Garden has so far invested about 20 billion ringgit ($240 million) in the project, Forest City said last year. </p><p><em>($1 = 4.1780 ringgit)</em> </p>