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New Straits Times
2 days ago
- Business
- New Straits Times
No immediate plans for Malaysia-Thailand border economic zones
KUALA LUMPUR: The government currently has no specific plans to establish a Special Economic Zone (SEZ) or Financial Free Zone (FFZ) along the Malaysia-Thailand border. Acting Economy Minister Datuk Seri Amir Hamzah Azizan said in a written parliamentary reply that the ministry is open to considering such a proposal in the future if a need arises and if it brings mutual benefits to both countries. "At present, there are no specific plans to establish a Special Economic Zone or Financial Free Zone along the Malaysia-Thailand border. "However, the government, through the Economy Ministry, is open to considering and further evaluating the proposal to establish a Border Special Economic Zone in the future, should there be a need and if it brings mutual benefits to both countries." He was responding to a question from Rushdan Rusmi (PN-Padang Besar), who had enquired about plans to establish Padang Besar as an SEZ or FFZ to spur cross-border investment and trade. Amir Hamzah said that existing regional cooperation platforms include the Indonesia–Malaysia–Thailand Growth Triangle (IMT-GT) and the Malaysia–Thailand Joint Development Strategy for Development Areas (JDS). He added that in efforts to boost the economy of border areas, the Economy Ministry, through its border development initiative, has identified and developed border economic areas in Kedah, Kelantan, Perlis, and Perak. To date, various initiatives have been implemented, including the Kedah Rubber City (KRC), eight Border Special Economic Zones, and the Northern Corridor Highway.
Free Malaysia Today
2 days ago
- Business
- Free Malaysia Today
No plans for SEZ along M'sia-Thai border, says ministry
The Padang Besar border crossing in Perlis is a key entry point for trade and travel between Malaysia and Thailand. (Bernama pic) PETALING JAYA : There are currently no plans to establish a special economic zone (SEZ) or financial free zone (FFZ) along the Malaysia-Thailand border, including in Padang Besar, the economy ministry says. The ministry said it had identified and developed several border economic areas in states like Kedah, Kelantan, Perlis, and Perak, featuring initiatives like the Kedah Rubber City, the eight border SEZs, and the Northern Corridor Highway project. 'At present, there are no specific plans to establish an SEZ or FFZ along the Malaysia-Thailand border,' it said in a written parliamentary reply to Rushdan Rusmi (PN-Padang Besar). Rushdan had asked whether the government intended to designate Padang Besar as an SEZ or FFZ to boost cross-border trade and investment activities. The economy ministry also said there were already regional platforms in place, such as the Indonesia-Malaysia-Thailand Growth Triangle and the Malaysia-Thailand Joint Development Strategy for Development Areas. However, it said the government remained open to considering and exploring the idea of a border SEZ in the future 'if there is a need and if it brings mutual benefits to both countries'. The ministry's response was despite an earlier push for closer economic integration with the southern parts of Thailand. In May last year, Prime Minister Anwar Ibrahim and then Thai prime minister Srettha Thavisin reportedly discussed the development of SEZs focused on halal industries. Three months later, Anwar proposed that the private sector be roped in to set up these SEZs with Thailand, which he said could attract more investment. However, Srettha was removed from office a week later.
The Star
2 days ago
- Business
- The Star
No plans to form special economic or financial zone at Malaysia-Thailand border, Parliament heard
KUALA LUMPUR: There are no specific plans to establish a special economic zone or special financial zone at the borders of Malaysia and Thailand yet, the Dewan Rakyat was told. The Economy Ministry, however, said they are open to considering it in the future, if there is a need alongside benefits to both countries. 'There are also existing cooperation platforms such as the Indonesia-Malaysia-Thailand Growth Triangle and the Malaysia-Thailand Joint Development Strategy for Development Areas,' it said in a written reply on Wednesday (July 30). The Ministry added that they have identified and developed economic zones at Malaysia's borders along Kedah, Kelantan, Perlis and Perak. This includes various initiatives including Kedah Rubber City and Northern Corridor Highway, said the Ministry. It was responding to a question by Rushdan Rusmi (PN-Padang Besar) who asked about plans to establish Padang Besar as a special economic zone or special financial zone to spur cross-border investment and trade activities.
