The government has approved Forest City in Johor as a Duty-Free Island to boost tourism and stimulate local economic activities.

Prime Minister Dato' Seri Anwar Ibrahim made this announcement during the Budget 2025 presentation in Parliament today (October 18).

This decision follows the signing of the Johor-Singapore Special Economic Zone (JSSEZ) Memorandum of Understanding (MOU) in January 2024, marking a significant milestone in economic cooperation between Malaysia and Singapore.

Additionally, a tax incentive package was introduced for the Forest City Special Financial Zone to enhance financial services, including global business services and Fintech.