ALOR SETAR, Jan 5 — The Special Border Economic Zone (SBEZ) in Bukit Kayu Hitam, as planned by the government in Budget 2018 is expected to contribute between RM30 billion and RM40 billion to the country’s gross domestic product, annually.
Second Finance Minister Datuk Seri Johari Abdul Ghani said the development of the economic zone was in the planning stage pending approval from the Kedah state government to gazette the site for implementation of the project.
“So physical works for implementation of the project will commence soon.
“The government wants to develop the area because it would spur the country’s economic sector from the opportunities created by the project,” he told reporters after a SBEZ briefing and gathering with state exco members and department heads at Wisma Darulaman here yesterday.
Kedah Mentri Besar Datuk Seri Ahmad Bashah Md Hanipah was also present.
Johari said the SBEZ involving 4,451 hectares would comprise a land port, free trade zone and commercial centre.
“In the first phase, we will develop the free trade zone covering 930 hectares,” he said. — Bernama