Ministry Committed to Completing Kedah Rubber City Phase One Within a Year

Economy Minister Rafizi Ramli’s Assurance

The Ministry of Economy is committed to ensuring that phase one of the Kedah Rubber City (KRC) development will be completed within a year, said Economy Minister Rafizi Ramli. He expressed confidence that the ministry will be able to successfully complete phase one of the project and assess whether it can build or upgrade the road from Padang Terap to Alor Setar.

New Incentive Package in the Works

In addition to the commitment to completing phase one of the KRC development, Rafizi also announced that the Ministry of Finance (MoF) is in the process of developing and implementing a new incentive package for KRC. The existing incentive package is set to expire on December 31, 2024, and the new package will focus on location and specific industries.

Prioritizing Location and Industries

According to Rafizi, the new incentive package will prioritize location and focus on certain industries. This approach is expected to provide a more targeted and effective support for the development of KRC. The ministry is aware that the existing incentive package has been successful in attracting investments to the region, and the new package aims to build on this success.

Importance of KRC Development

The Kedah Rubber City development is a significant project that has the potential to drive economic growth and development in the region. The project involves the development of a rubber-based industrial park, which will provide a platform for local and foreign investors to establish businesses and create jobs. The development of KRC is also expected to improve the infrastructure and amenities in the region, making it more attractive to investors and tourists.

Conclusion

In conclusion, the Ministry of Economy is committed to completing phase one of the Kedah Rubber City development within a year, and the Ministry of Finance is working on a new incentive package to support the project. The new package will prioritize location and focus on certain industries, providing a more targeted and effective support for the development of KRC. The project has the potential to drive economic growth and development in the region, and the ministry’s commitment to its completion is a positive step forward.

FAQs

Q: When is the Ministry of Economy expecting to complete phase one of the Kedah Rubber City development?
A: The ministry is expecting to complete phase one of the project within a year.

Q: What is the focus of the new incentive package for KRC?
A: The new incentive package will prioritize location and focus on certain industries.

Q: What is the significance of the Kedah Rubber City development?
A: The project has the potential to drive economic growth and development in the region, improve infrastructure and amenities, and create jobs.