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- In addition, Economy Minister Rafizi Ramli said the Ministry of Finance (MOF) is also in the process of developing and implementing a new incentive package for KRC.
KUALA LUMPUR (Nov 14): 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. (pictured)
"I am confident that within a year we will be able to successfully complete phase one (of KRC) and it will allow the Ministry of Economy to assess whether we can build or upgrade the road from Padang Terap to Alor Setar," he told Parliament on Thursday in wrapping up the debate on the Supply Bill 2025.
In addition, Rafizi said the Ministry of Finance (MOF) is also in the process of developing and implementing a new incentive package for KRC.
He said the ministry was aware that the existing incentive package would expire on Dec 31, 2024 when he chaired the exco meeting of the Northern Corridor Economic Implementation Authority (NCIA) recently.
"The MOF is in the process of developing and implementing a new incentive package but it will be more about location and the focus will be on certain industries," he said.
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