Kuala Lumpur International Financial District Gives Incentives
The Kuala Lumpur International Financial District (KLIFD) is a joint development project to strengthen and centralize Kuala Lumpur’s finance hub. The KLIFD also wants to be a destination for the Islamic finance industry. Kuala Lumpur has over 1.6 million people and Bursa Malaysia is based in the city.
The US$ 8 billion (RM 25.07 Billion) project is being jointly developed by the Mubadala Development Company and 1Malaysia Development Bhd (1MDB). Mubadala sees a lot of investment potential in Southeast Asia. The Malaysian government is backing this initiative. One huge incentive to compete with Hong Kong and Singapore is a 100% income tax exemption for a 10-year period for KLIFD-status company.
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