Malaysia Designates Forest City Island Duty-Free Zone

Malaysia has passed regulations to establish Pulau Satu, an island within the Forest City development, as a duty-free zone to boost economic growth. The Lower House of Parliament approved five bills amending customs, excise, free zones, sales, and service tax laws for this purpose. The move aims to stimulate trade, attract investments, and create job opportunities in sectors like hospitality and finance. The duty-free status will include exemptions for items like liquor, chocolate, cosmetics, and perfume, similar to other duty-free islands in Malaysia. This initiative aligns with efforts to revitalize the struggling Forest City megacity and foster economic development in Johor, potentially linking with Singapore for a cross-border economic zone.