The Malaysian state of Kedah is expected to generate a revenue of about RM520 million via three large scale development projects currently in the pipeline, the State Legislative Assembly sitting was told today.
State Industry and Investment, Domestic Trade, Cooperatives and Consumer Affairs Committee chairman Datuk Dr Ku Abdul Rahman Ku Ismail said the three projects were the Rubber City in Padang Terap, Duty- Free City and Kedah Science and Technology Park (KSTP) in Bukit Kayu Hitam.
“The Duty-Free City project is expected to contribute the highest revenue of RM352.48 million including RM15.7 million revenue to the local authorities (LAs),” said Ku Abdul Rahman who is also Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) Committee chairman.
“Meanwhile, the Rubber City Project is expected to generate RM75.7 million including RM13.8 million revenue for LAs and KSTP will be generating RM81.35 million in revenue,” he said when replying to a question from Datuk Ahmad Lebai Sudin (BN-Bukit Lada) who wanted to know about the new strategies taken to strengthen Kedah’s finances.
He said, in order to strengthen the state’s finances, the state government also implemented commitment fees for development projects on government land to encourage investors who intended to invest in the state, to be fully committed to the said projects.