Malaysia's Forest City: The rise of the Special financial zone ushered in a new era of regional economy

ISKANDAR PUTERI, Malaysia, Oct. 3, 2024 /PRNewswire/ -- Johor, Malaysia, has ushered in a moment of great historical significance. Witnessed by the Regent of Johor, Forest City Special Financial Zone (SFZ) was officially announced. The Second Minister of Finance of Malaysia and the State Minister of Johor attended the press conference.

The Second Minister of Finance and the State Minister introduced the planning and vision of the SFZ detail. The SFZ will strive to become a highland of financial innovation in the region, attract various financial institutions to settle in, and promote the vigorous development of the financial industry.

The Second Minister of Finance introduced Forest City as the first location in Malaysia to offer zero tax rate for family offices, He added that supported by good infrastructure, a competitive talent pool, robust common law practices and effective governance, opportunities were abound for family offices.

The development of the financial zone is of great significance to Johor, especially in the field of international finance and banking. The state government is committed to introducing advanced financial formats and financial infrastructure in Johor. With the unique advantage of being adjacent to Singapore, the Asia-Pacific financial center, the Forest City SFZ will develop a new financial ecosystem that complements and cooperates with Singapore, rather than competing with each other, and is expected to become the financial "dual-core engine" in the ASEAN region.

The construction of the Forest City SFZ will bring more investment opportunities to Johor, create more jobs, and promote the rapid development of the local economy. At the same time, it will further enhance Johor's status and influence in the international financial field and make positive contributions to the prosperity of the regional economy.

Financial experts are confident about the development prospects of the financial zone. They believe that the establishment of the Forest City SFZ will inject new impetus into the growth of the regional economy. With its unique geographical location, superior policy environment and perfect infrastructure, it is expected to attract a large number of financial resources to gather and form a strong financial industry cluster.

Forest City is actively promoting the application for the "Malaysian Digital Status". Qualified companies will enjoy a 10-year corporate income tax exemption. In July 2024, Forest City Island 1 was officially listed as a duty-free island, which will attract more investors and companies to settle in and further promote its economic development.

Forest City is applying for "Malaysian Digital Status" with qualified companies enjoying a 10-year corporate income tax exemption. In July 2024, Island 1 was listed as a duty-free island. The Johor State Government plans to set up the Investment Malaysia Coordination Center (IMFC) in Forest City. With multiple preferential policies, Forest City has become a "special zone within a special zone", attracting government departments and enterprises. It will ignite the regional economic development engine.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Malaysia's Forest City: The rise of the Special financial zone ushered in a new era of regional economy

Malaysia's Forest City: The rise of the Special financial zone ushered in a new era of regional economy

With this recognition, G-P has been named the highest EOR leader for the third consecutive year

BOSTON, Oct. 3, 2024 /PRNewswire/ -- REMOTE FIRST COMPANY -- G-P (Globalization Partners), the recognized leader in the global employment market, today announced its recognition as the highest EOR industry leader in Everest Group's Employer of Record (EOR) Solutions PEAK Matrix^® Assessment 2024.

"G-P's broad array of solutions, strong focus on integrated technology, user experience, extensive global reach and deep industry expertise, has helped it emerge as a Leader in Everest Group's EoR Solutions PEAK Matrix^® Assessment 2024. Furthermore, its ongoing investments, especially in advanced technologies such as AI, coupled with its strategic partnerships to provide differentiated offerings through its G-P Meridian Core and Prime products are highly regarded by clients," said Priyanka Mitra, Vice President, Everest Group.

With this recognition, G-P continues to be the undisputed leader in all EOR analyst reports since their inception in 2020. In addition to Everest Group, G-P has been recognized as an industry leader in The IEC Group Global EOR Study 2024 and Nelson Hall's 2024 Global EOR Services NEAT evaluation report this year.

"G-P's recognition as the global leader by all analyst firms covering the EOR industry underscores our commitment to global employment and continued innovation in the space," said Nat Natarajan, chief product and strategy officer at G-P. "We're leading AI innovation in global employment, enabling companies around the world to build, manage and optimize global teams quickly and compliantly with EOR, Contractor and Advisory Services."

The PEAK Matrix^® Assessment provides the analysis and insights enterprises need to make critical selection decisions about global top tech and tech services providers, top locations, best-in-class products, and best-in-class solutions. This year's EOR Solutions PEAK Matrix^® Assessment is a comprehensive global report featuring 20 solution providers, evaluating factors such as revenue, client base, year-over-year growth, operational scale, technological innovation, global reach, delivery capacity, and client satisfaction. Leaders are noted as providers that continue to maintain their stronghold in the market and are investing in proprietary technologies to differentiate themselves from other providers in the market.

Learn more about what sets G-P apart here: www.g-p.com

About G-P

G-P is the recognized leader in global employment, delivering everything companies of all sizes need to quickly and compliantly build and manage global teams in 180+ countries, regardless of entity status. G-P's industry leading SaaS-based Employer of Record (EOR), Contractor and Advisor products are backed by more than a decade of experience, the largest team of in-country HR, legal, and compliance experts, and insights from its proprietary generative AI knowledge base.

G-P: Global Made Possibleâ„¢

To learn more, please visit: g-p.com or connect with us via Twitter, LinkedIn, Facebook, or check out our Blog.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

G-P Recognized as the Highest Leader in Everest Group's Employer of Record (EOR) Solutions PEAK Matrix® Assessment 2024