Wednesday, 21 December 2011

Sabah to create packages to attract investments in bio-tech and ICT industries

KOTA KINABALU: Sabah will customise a competitive package under the Sabah Development Corridor (SDC) to attract private investments particularly in knowledge intensive sectors.
Chief Minister Datuk Musa Aman said anchor companies, were being eyed for new investments and encouragement would be given to bio-tech and ICT industries for designated strategic development areas.
Speaking at the seventh Sabah Economic Development and Investment Authority (SEDIA), he said Sabah was promoting its potential through trade missions both by the state and national agencies.
“The response from these missions has been very fruitful and since 2008 there is cumulative planned investment in SDC which has reached RM57 bil in June,” he said.
He said the tourism and real estate sector had attracted about RM22.1bil or 39% of the total planned investment while manufacturing, oil and gas and energy drew about RM26bil or 45.6% of the investments planned.
However, he said that the agriculture sector, which was the state’s backbone, was lagging in terms of new investments making up about RM3.2bil or 5.5% of the planned investments.
However, Musa was hopeful that it would change with the implementation of agro-based projects under the SDC.
The Chief Minister said aggressive implementation of SDC especially in agriculture would mitigate the increase in food prices while opening up economic opportunity for the rural people.
Musa said that agro-based projects include the Palm Oil Industrial Clusters in Sandakan and Lahad Datu, agro based projects in Tongod, Pitas, Kota Belud, Kemabong, Beluran Keningau Integrated Livestock Centre, permanent Food Production Parks and Sabah Agro-Industrial Precinct and Fisheries Complex in Kuala Penyu.
Musa said there has been interest from Brunei and Kalimantan to enhance trade ties.

MUGUNTAN VANAR. . Sabah to create packages to attract investments in bio-tech and ict industries. THE STAR. Retrieved from

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