Tuesday, October 9, 2012

Sabah will dish out perks to attract FDIs

The Sabah State Government says it remains committed to driving the state’s economic growth with the offer of various incentives for foreign investments while ensuring a conducive investment environment.

Chief Minister Datuk Seri Musa Aman (picture) said the flow of foreign investments had continued to see a positive trend, clearly reflecting investors’ confidence in the state’s economic fundamentals and prospects as well as its political stability and level of security.

“In the first quarter this year, Sabah received RM10 billion — the highest amount of private investments compared with other states.

“Apart from that, as of September 30, the amount of cumulative investments in the private sector, under the Sabah Development Corridor projects, had reached RM114 billion since its launch in 2008,” Musa Aman said.

The CM said this in his speech at the state awards and medals ceremony held in conjunction with the 59th birthday of Sabah Yang Dipertua Negeri, Tun Juhar Mahiruddin at the state palace here today.

Musa said the state had also spent a total of RM1.136 billion from the RM1.39 billion allocated to it under the Ninth Malaysia Plan and the 10th Malaysia Plan. He said the state also saw a 15.7 per cent rise in the number of foreign tourists during the January to July period this year, with a total of 541,552 visitors, compared with 467,924 tourists seen in the same period last year. “In the second roll out of the 10th Malaysia Plan, Sabah was also allocated RM4.376 billion to carry out 743 projects in 2012.

“As of September 21, RM1.971 billion or 45.1 per cent of the 2012 allocation had been spent to finance development projects implemented in Sabah.”

He said the state government was confident that the success in attracting private and foreign investments into the state was clear proof of the state’s conducive environment to attract high impact investments with greater economic prospects.

Musa said the state government was also committed to ensuring that all development programmes for Sabah under the 2013 Budget are implemented including the standardising of goods prices, opening of 1 Malaysia retail shops and the expansion of padi space in Kota Belud.

He also said the state government took pride in the AAA rating given to the state by Rating Agency Malaysia (RAM) for four consecutive years.

Apart from the foreign investments and tourists, the state has also welcomed high powered delegations including senior leaders from China and the latest being the visit from Britain’s royal couple, The Duke & Duchess of Cambridge, he said. Sabah world class biodiversity and heritage wealth of flora and fauna has showcased through international media coverage featuring lush natural environment. This has further reflected the positive image of Sabah in the world map — Bernama

Source: themalaysianinsider


Anonymous said...

Puteri Umno chief Datuk Rosnah Abdul Rashid Shirlin has refuted the opposition’s claim that the government’s Cabotage policy was responsible in slowing down and curtailing Sabah’s economic growth.

Anonymous said...

Cabotage policy requires all domestic transhipments be done using Malaysian-flag bearing vessels, which was blamed by the industrial sector for having contributed to rising shipment costs and subsequently higher costs of goods in Sabah and Sarawak.

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