The state government has approved seven incentives for the development of managed industrial parks (MIP), so as to encourage developers and property owners to do so.
Menteri Besar Dato’ Seri Amirudin Shari said the incentives were decided upon in the recent Selangor State Executive Council (MMKN) meeting, and include land premiums and development charge installments which are interest-free.
“The state government will not remain passive as an administrator. Even though we do not own the entirety of the land, nonetheless we will develop them with various incentives approved by MMKN.
“Seven incentives, including premium payments, can be delayed without late charges. Installments of development charges that are free of interest will also be given, provided the development or building in question remains unfilled,” he said.
Amirudin was speaking at the groundbreaking ceremony for the NCT Smart Industry Park (NSIP) yesterday, the first of its kind under the Integrated Development Region in South Selangor (Idriss) initiative.
The Menteri Besar added that he hopes the incentives will contribute to Malaysia’s country’s gross domestic product (GDP), as well as boost Selangor’s resilience and create a harmonious society.
On March 15, he announced the incentives, which also include exemptions from the provision of low-cost factories and property ownership quotas for foreign citizens or permanent resident companies.
Other incentives include long-term leases of non-strata developments, as well as land and assessment taxes.
