Former Finance Minister Lim Guan Eng has proposed that the federal government create a special financial zone in Penang which focuses on the northern region, just like the one in Forest City, Johor.
“It was reported that Penang contributed RM10 billion in state tax to the federal revenue recently. There were also reports of 436 projects worth RM22.17 billion having been approved for Kelantan and 511 projects with a cost of RM29.5 billion for Pahang. Lim also proposed that the government raise the minimum wage to at least RM2,000 and cut corporate tax to 20 per cent in order to reach the median monthly wage of RM4,510 by 2030.
In addition, industries should be encouraged to adopt sustainable practices that minimise raw resource waste and protect the environment.