TOTAL INVESTMENT IN SDC HITS RM107bn IN FIRST QUARTER

Datuk Seri Musa Aman

The total cumulative committed investment in the Sabah Development Corridor (SDC) has reached RM107 billion as at the end of the first quarter of this year.

Chief Minister Datuk Seri Musa Haji Aman (pictured left) said this reflects the private sector confidence in the state’s economy following the alignment of SDC and other projects with national-level plans.

He added that the implementation of SDC and the establishment of the Sabah Economic Development and Investment Authority (SEDIA) had facilitated and enhanced a closer working relationship between the state and federal governments.

And, Musa recalled that during the launch of the SDC Open Day two months ago, Prime Minister Datuk Seri Najib Tun Razak had made special reference to and applauded this working relationship.

He also said the SDC projects had benefited everyone in Sabah, regardless of their location, socio-economic status and ethnic background, in line with the pledge that no one would be left behind.

“As chairman of SEDIA, I assure you that all outstanding SDC projects will be carried out and we will implement new projects including the identified entry point project (EPPs),” he said in his opening remarks at the Ninth Meeting of Members of the Authority at Wisma SEDIA near here yesterday.

Musa who is also Finance Minister, was represented by one of his deputies, Tan Sri Joseph Pairin Kitingan at the meeting.

The Chief Minister also announced that the SEDIA, a one-stop authority to drive the SDC, has endorsed the governance structure for EPPs.

In this respect, a Steering and Delivery Management Office had been established under SEDIA for this purpose.

He also said the structure, which is integrated into SEDIA’s existing investment processing and monitoring mechanism, will make SEDIA, the one-stop authority, to plan, attract, process, facilitate and monitor investments into the SDC.

“New investments identified as EPPs may be submitted through this mechanism. I believe this will enable SEDIA to help the nation expedite the implementation of the Economic Transformation Programme (ETP),” he said.

Musa also said the lab for Sabah placed emphasis on aligning the ETP, Government Transformation Programme (GTP) and Tenth Malaysia Plan with the SDC and local development plans.

“This process for SDC and Greater Kota Kinabalu identified 31 Entry Point Projects (EPPs) with a target investment of RM77.5 billion by the year 2020,” he said.

And, according to him, these EPPs are expected to generate RM35.5 billion in incremental Gross National Income (GNI), and create about 144,000 new jobs.

Musa also said the implementation of these EPPs is estimated to be able to drive Sabah’s economic growth at an annual average of nine per cent.

He said SEDIA would accord greater emphasis on measures to encourage investors to partner or enter into joint ventures with Government-Linked Companies (GLCs) and SDC implementing agencies, as well as to team up with local entrepreneurs.

Driven by 12 National Key Economic Areas (NKEAs), there are a total of 131 EPPs outlined within specific sectors to grow the national economy and these EPPs are expected to lead Malaysia towards achieving a high-income nation status by 2020.

Within that time frame, Sabah is expected to have a per capita income of about RM32,400 which represents 72 per cent of the national target and achieve a GNI of RM110 billion.

Read More: http://www.newsabahtimes.com.my/nstweb/fullstory/58030