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It was also optimistic that the port sector will be buoyed by stronger liquefied natural gas (LNG) demand in 2H24 as the northern hemisphere enters winter season and the prospective hike in tariffs.
KUCHING: Bintulu Port Holdings Bhd (BPHB) is advancing efforts to establish itself as a regional Free Zone hub to spur growth.
Groundwork to develop free zones at both Bintulu Port and Samalaju Industrial Port was initiated last year, leveraging on their strategic maritime locations and strong trade linkages, according to president and group chief executive officer Ruslan Abdul Ghani
This is very fresh news — today's date actually. Here's what it means:
What is a "Free Zone"?
A Free Zone (FZ) is a designated area where goods can be imported, handled, manufactured, or exported with minimal or zero customs duties and taxes. Think of it as a special economic enclave within a port where normal import/export tariffs are suspended to attract investment and boost trade.
What just happened at Samalaju?
The Free Zone application for Samalaju Port was approved by Malaysia's Ministry o
