SABAH MAGNET FOR HOME AND FOREIGN INVESTORS

Posted on : 18-06-2013 | By : sabah today | In : News

18th June, 2013
KOTA KINABALU: Sabah has become a popular investment destination among both domestic and foreign investors.

A good record of financial management as well as good governance had given confidence to investors.

The state clinched the third spot after Selangor and Johor in terms of investment value in the manufacturing sector throughout 2012.

Head of State Tun Haji Juhar Haji Mahiruddin said this in his policy speech when opening the first session of the 14th State Assembly sitting here yesterday.

According to him, manufacturing activitities will continue to be intensified to boost economic growth and this year, the sector is targetting RM5.44 billion in investments.

“To achieve this endeavour, more infrastructural facilities will be provided in the industrial areas with focus on the Palm Oil Industrial Cluster (POIC) in Lahad Datu and Sandakan, the Sipitang Oil and Gas Industrial Park (SOGIP) as well as the Kota Kinabalu Industrial Park (KKIP),” the Governor said.

Of the targetted investment amount, Tun Juhar said RM2.5 billion is expected at SOGIP, KKIP (RM1 billion), POIC Lahad Datu (RM415 million), POIC Sandakan (RM328 million) and the remaining RM1.2 billion from other investments in the manufacturing sector.

The oil and gas sector remains a major contributor to Sabah’s gross domestic product (GDP) and is expected to expand even more rapidly following the discovery of new oil fields.

And, Tun Juhar said the oil and gas sector is expected to attract a mammoth investment worth over RM30 billion and that the focus would be on the upstream and downstream industries.

On the Sabah Development Corridor (SDC), which is now into phase two (2011-2015), he said it is moving on the right track.

At this stage, 11 high impact private projects worth RM1.7 billion are being implemented.

Overall, the total investment as at 2012, is worth RM14.5 billion.

Apart from that, the SDC will step up efforts to bring about more value-added activities through cooperation with global companies as well as the strengthening of small and medium industries.

Tun Juhar said the state government would also strive to attract more private investments apart from providing adequate infrastructures and highly-skilled workers to boost the development of SDC.

Tun Juhar also touched on information and communication technology (ICT), saying in the era of globalisation, the government has implemented various programmes to develop this sector including to produce a knowledgeable and informative community.

And, in the line with this aspiration to develop ICT as a catalyst to national development, the Governor said the state government would also make concerted efforts to ensure the development of this sector this year.

The efforts, he said would include increasing broadband penetration especially in rural areas across the state wth the aim to produce a society that is savvy in ICT in future.

Meanwhile, Tun Juhar commended the Election Commission and police for successfully conducting the recently-concluded 13th general election.

“It was a well-run and peaceful election. I wish to congratulate the Chief Minister (Datuk Seri Musa Haji Aman) and the Barisan Nasional for again being given the mandate by the people to continue with the ongoing development programmes.

“And, I hope all the elected representatives will do their level best to serve the people as well as to play an active role in assisting the government to develop our state,” Tun Juhar said.

The Governor also said harmony among the people of various backgrounds is the key to a nation’s stability.

As such, the government constantly lays stress on unity and harmony by carrying out religious, family, and cultural activities to foster greater ties among the people.

“However, there is a need for all to participate in these activities…united we stand, divided we fall.”

Also present were the Governor’s wife Toh Puan Hajah Norlidah R.M. Jasni, Chief Minister Datuk Seri Musa Haji Aman and his wife Datin Seri Hajah Faridah Haji Tussin, State Assembly Speaker Datuk Salleh Tun Said, Cabinet Ministers and their deputies, and elected representatives.

(Source: New Sabah Times)

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