SDC receives more than RM4 bln in private sector investment

KOTA KINABALU: The Sabah Development Corridor (SDC) has received more than four billion ringgit in investments from the private sector to date.“In addition, another RM20 billion is in the planning stage,” said the Chief Minister Datuk Seri Musa Aman in his opening remarks, while chairing the fourth meeting of the Sabah Economic Development and Investment Authority (Sedia), here.

The Chief Minister was happy to note that projects under the SDC had been recognised and highlighted in the National Budget 2010.

These included the development of the Palm Oil Industry Cluster (POIC) in Sandakan and the Keningau Integrated Livestock Centre.

“Through the SDC, the POIC will spur the development of the bio-triangle strategic development area, which includes the Sandakan Education Hub and the agropolitan project for Tongod and Beluran.

“As for the Keningau Integrated Livestock Centre, it will stimulate development of the Interior Food Valley that covers the Kemabong agropolitan and Nabawan livestock industry development,” he said.

Musa said strategies stated in the National Budget 2010 had outlined the steps to stimulate the national economy towards generating higher income, adopting holistic and sustainable development, as well as improving the living standard and income of the people.

“On top of that, both the national and state budgets have emphasised the role of the private sector in economic development, particularly, in terms of investment and capital mobilisation.

“This is in line with the national and state objectives, especially now, as we prepare to implement the second phase of the SDC,” said Musa.

He highlighted the success of the Borneo International Trade Fair 2009 (BITF2009) held recently and organised by the Sabah Bumiputera Chamber of Commerce in collaboration with the Sabah United Chinese Chamber of Commerce and the Kadazandusun Chamber of Commerce and Industry.

According to Musa, investors and the business community in general, are upbeat over Sabah’s investment environment with the launching of the SDC.

He said the BITF2009 had for the first time, showcased projects under the SDC.

Musa said the fair had managed to attract close to 60,000 visitors.

“This indeed is very encouraging, even though the world at this time is still facing economic challenges, brought about by the threat of the H1N1 flu and others,” he added.

He welcomed the various efforts put forth in developing new growth sources, particularly the green industry, creative industry and industries based on niche areas such as health tourism, Information and Communication Technology (ICT) and the halal industry. — Bernama

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