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Total investments in Sabah reaches RM112.8b

July 5, 2012

KOTA KINABALU: Since the launch of the Sabah Development Corridor (SDC) in 2008 and as of June 30 this year, Sabah has attracted planned and committed investments of RM112.8 billion.

Sabah Chief Minister Musa Aman said this is an indication that the SDC had succeeded in boosting the investment climate in the state.

Speaking at the 10th meeting of the Sabah Economic Development and Investment Authority (Sedia) here today, he said a number of major investments, from both domestic and overseas, in sectors including the oil and gas industry, oil palm, fishery, livestock and tourism was starting to flow into the state.

The new investments include those by Annam Corporation, a subsidiary of the Brunei Investment Agency.

Musa said Sedia, which is steering the implementation of various SDC projects had sealed a heads of agreement (HOA), with Annam Corporation on June 16.

He said the Jejak Teraju programme launched on June 5 is aimed at, among others, enhancing the participation of Bumiputeras in the SDC’s projects.

Terajau has now formed the [email protected] secretariat for the SDC at the Sedia office.

It is hoped that the formation of the secretariat would help interested entrepreneurs in gaining access to advisory services on the use of the RM100 million special fund for Bumiputeras in Sabah.

Musa said Sedia had also entered into a memorandum of understanding with SME Bank on May 20 with the aim of assisting small and medium enterprises (SMEs) involved in economic activities at the SDC to have access to loans.

“I am told that Sedia is now working with BiotechCorp to venture into the biotechnology industry in Sabah. For a start, Sedia and BiotechCorp will sign a memorandum of cooperation, which will outline the scope of work to be undertaken,” he added.

He said Seida will also establish a one-stop SDC information centre at its office to assist entrepreneurs in receiving information on investments and business.

“I believe all these initiatives will ensure that everyone within the socio-economic sphere will be able to enjoy the benefits of development in Sabah and no one will be left behind as promised,” he added.

Musa said three years after Sedia was formed via an SDC initiative, it was now starting to make an impact.

He said all the flagship projects, including the Lahad Datu and Sandakan POIC, the Sandakan Education Hub, Keningau Integrated Livestock Centre, the Agro-Industrial Precinct, Oil and Natural Gas Cluster, Marine Industry Cluster, Kinabalu Gold Coast Enclave and Agropolitan Project, were now in various stages of implementation while infrastructure projects had been successfully completed.

– Bernama


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