Tax-free zone in Terengganu has not been decided yet

By TIN Media | Terengganu Published 3 years ago on 13 March 2020
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KUALA TERENGGANU :

The Terengganu government has yet to decide whether or not to pursue a tax-free development project on Bayas Island in Lake Kenyir, Hulu Terengganu.

It is understood that the construction of the Bayas tax-exempt area so far has reached a level of 77 percent involving a cost of about RM200 million.

Terengganu Menteri Besar Datuk Seri Ahmad Samsuri Mokhtar said they needed to take a closer look at developments there.

According to him, the state government needs some time to consider including making some assessments where it is not yet ready.

"We still want to succeed, just how and why the charge needs further study. It's no use if the structure is almost ready but we just leave it behind, it will break down.

"Imagine how much money has been spent. Just in case of financial constraints, there are many other things that we need to look at in full so that it does not bring losses to the state and provide a win-win situation for everyone," he said at a conference. Terengganu state assembly (assembly) in Wisma Darul Iman here today.

Ahmad Samsuri said the state government would look at the direction of the project while looking at the financial viability of the state.

He also refused to open up opportunities for private interested parties to succeed in the project.

"There is still more to be done. The cost is not too great but with the financial burden borne by the state government, our capabilities are quite limited.

"We can determine if there is a private party to take over. Currently, we have not received any applications," he said.


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