Economics

Special tax incentive for northern corridor players

ncer

Syndicated News
Written by Syndicated News

GEORGETOWN — August 17, 2017: Companies involved in key economic sectors in the Northern Corridor Economic Region (NCER) will be given a special tax incentive to boost investments.

The sectors include manufacturing, agriculture, bio-industries and services.

At the launch of the NCER Blueprint 2.0 here today, Prime Minister Datuk Seri Najib Razak said he was confident that with good cooperation among those involved, the vision to make the NCER a world-class destination will become a reality.

Under the blueprint, the region is expected to realise total accumulated investments of RM146.5 billion by 2025.

Najib said the gross domestic product for the NCER is expected to touch RM300 billion by 2025, with average household income rising to RM12,964.  The average household income of the B40 group is expected to rise to RM6,043.

He pointed out to studies that showed that the GDP growth of the northern corridor was encouraging, at 5.4 per cent per annum from 2010 to 2014, which was 0.8 per cent higher than the country’s GDP growth rate.

Among those at the event were Perak Mentri Besar Datuk Seri Zambry Kadir, Perlis Mentri Besar Datuk Seri Azlan Man, Penang Chief Minister Lim Guan Eng and Deputy Health Minister Datuk Seri Dr. Hilmi Yahaya. — Bernama

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