KANGAR: Perlis is expected to attract more investments through the new development blueprint which spans until 2025.
Menteri Besar Datuk Seri Azlan Man said the special tax incentives under the Development Blueprint 2016-2025 (Blueprint 2.0) was expected to bring quality investment into the Northern Corridor Economic Region (NCER) especially in Perlis.
He said the tax packages launched by Prime Minister Datuk Seri Najib Razak recently, was timely to boost Perlis’ vision to achieve a high-income state by 2030.
He said the incentives would be offered to companies involved in activities such as manufacturing, agriculture and bio-industries as well as services sectors in Perlis, Kedah, Penang and Perak.
He companies that met the requirement would be granted income tax exemption or allowance for qualifying capital expenditures, import duty exemption on plant and machinery.
He said the companies would also be entitled to stamp duty exemption on instrument of transfer or lease of land.
He said this would also apply on companies in the education sector such as the higher learning institutes, private and international schools.
"The tax incentives under the Blueprint 2.0 is expected to draw more investors to Perlis especially for Chuping Valley Industrial Area (CVIA) project,” he said at a press conference after a briefing session on the special tax incentives with Northern Corridor Implementation Authority (NCIA) chief executive Datuk Redza Rafiq.
Meanwhile, Redza said the incentives were required to implement market-driven projects which were led by the private sector and to attract suitable anchor investors to NCER.
“NCIA will play the role of enabler and facilitator, in line with the federal position that the private sector should spearhead economic development,” he said.