SABAH POSSESS STRONG ATTRACTION FOR HOME AND FOREIGN INVESTORS

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 manage to be in 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.

• 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)

• 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.

• 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.

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

• 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.

• At this stage, 11 high impact private projects worth RM1.7 billion are being implemented, and overall the total of 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.

• 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.

• On information and communication technology (ICT), saying that in the era of globalisation, the government has implemented various programmes to develop this sector including to produce a knowledgeable and informative community. And also to make concerted efforts to ensure development of this sector this year. He said it 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.

At the speech the governor also congratulated Chief Minister Datuk Seri Musa Haji Aman and the Barisan Nasional for again being given mandate by the people to continue with ongoing development programmes.

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

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