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The Formulation Royal Malaysia Customs Laws to Kenyir Free Trade
Zones (FTZ)
Muhamad Amirul Shakiq Bin Abdul Khadar
En. Madzli Harun
Bachelor of Management (Maritime)
School of Maritime Business and Management
Establishing FTZ is another way of facilitating the free flow of trade and
business. In FTZ, investors will enjoy a preferential corporate tax scheme,
custom duties and other fees and charges with simplified border control, custom
clearance, and other procedures. Transformation of Kenyir Lake becomes FTZ
able to make it the Eco-tourism destination one of the focal areas in
Terengganu. The main issue is Non-Regulation related to Royal Malaysia
Customs (RMC) and Ministry of International Trade and Industry (MITI) adapted
to KFTZ. Another are lack of enforcement regarding monitoring activities and
movement of goods at KFTZ. Thus, the objective of research is to assess either
related type of laws be potential to implement on KFTZ. The theory have been
used in this research are Principal agent and Benchmark theory. To ensure
forming Customs laws on KFTZ, the engagement by RMC, MITI, and KETENGAH
really importance to ensure sustainability of relationship towards proposed
regulations. FTZ that apply the recommended regulation derived from the result
of the study will able to be best and successful FTZ on future.
1610 | UMT UNDERGRADUATE RESEARCH DAY 2018