The ASEAN trade pioneer, Singapore’s corporate tax regime and trade infrastructure is one of the most attractive for both foreign and domestic investments in Asia. Businesses are taking advantage of the flat 17% corporate income tax rate for profits above S$300,000
(US$221,243) and 8.5% for profits up to S$300,000. UNCTAD's World Investment Report (2019) also ratified the country’s economic competitiveness with findings that Singapore has become the third largest global recipients of inward FDI just behind China and USA. In
response to the heavy flow of investments, the world’s largest container terminal, Tuas Mega Port, an Economic Free Zone is being built in four phases, with the 20 million 20ft equivalent units (TEU) first phase opened on September 2022 at a cost of S$2.42bn ($1.76bn).
As a member of the attractive ASEAN market, Malaysia has drawn a total approved Foreign Direct Investment (FDI) valued at $41.79 billion USD for the first nine months of 2022, up by 2.5% compared with $40.97 billion USD recorded for the same period in 2021 based on statistics from Malaysian Investment Development Authority (MIDA). Such FDIs are enhancing seamless technology transfer between various regions and increases local economy revenue simultaneously. The Kuantan Port located 265KM from Kuala Lumpur is a testament for the trade relationship between Malaysia and China with the launch of The Malaysia China Kuantan Industrial Park (MCKIP). Spanning over 3,500 acres, MCKIP has realised $3.15 billion USD in investments and $3.34 billion USD more has been committed. Under Malaysia’s Budget 2023, the government offers an irresistible investment tax allowance of up to 100% for 5 years for existing manufacturing companies already operating in Malaysia.
Join us at Economic Free Zones and Industrial Estates Summit by Trueventus and gain insightful ideas and issues around Economic Free Zone development. Learn and understand holistically about the development of Special Economic Zones, uncover case studies from reputable speakers, experience the latest applied technology to improve business processes, and gain networks with global experts across industries.