According to PKFZ director Tengku Zainal Rashid, PKFZ is now negotiating with 50 new potential investors amounting to RM610million in total investments. “While the shipping and logistics community is aware of PKFZ, there are still some sections in the manufacturing industry and small & medium enterprises (SME) that are not fully aware of the advantages of investing in the regional industrial park, PKFZ. We are now increasing our efforts to reach out to these groups,” he said.
The pullout of JAFZA international from PKFZ created awareness among PKFZ’s board of directors and they’ve been working hard to bring in potential investors to the regional industrial park. Tengku Zainal also acknowledged that there are much to be done to create greater awareness of the economic benefits of investing in PKFZ, which very much includes tax exemptions (duty free products and/or services), 100% foreign equity, export, R&D and training incentives, industrial allowances and 100% repatriation of capital and profits.
The integrated regional industrial park also sources government officials for quicker and smoother transactions – Businesses can now start within a week from the application submitted to relevant government bodies and parties in their new one-stop center. These eased systemized solution for new investors stroke a good impression on many potential foreign investors wanting to build a presence here in Asia.
'It just takes time to develop a new thing like this (regional industrial park, PKFZ). Dubai also took nearly 10 years to develop the Jebel Ali Free Zone (UAE). We are only two years old,' said Tengku Zainal.
For more information, click on Regional Industrial Park PKFZ or type www.pkfz.com.