The Kelantan state government is introducing several incentives to attract the participation of the private sector and foreign investors, including expediting the process of setting up factories and industries.

State Industrial, Trade, Investment and Entrepreneur Development Committee chairperson Hanifa Ahmad said the government had also agreed to relax the payment of land premium in installment.

“We also approved the initiative to exempt assessment tax for the first two years to reduce the cost of the company’s operation cost apart from expediting the issuance of land grant.

“At the same time, we are organising investment missions to countries with potential including Japan and Dubai and allocated RM300,000 to promote investment while another RM300,000 is for investment missions for this year and next year,” he said in reply to a question during Question Time at the Kelantan State Legislative Assembly in Kota Bharu today.

He was answering a question by Zuraidin Abdullah (PAS-Chetok) on the efforts of the state government to attract investments to the state.

- Bernama