CM: OBG report proves govt business-friendly

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TOKEN OF APPRECIATION: Musa (second right) receives a painting as a souvenir from OBG’s Asia Regional director Laura Herrero at the launch of ‘The Report: Sabah 2011’. — Bernama photo

KOTA KINABALU: The Oxford Business Group’s (OBG) report on Sabah’s economic growth potential highlights what the state government has been stressing all this while — that it is business-friendly and very committed to achieve more progress as well as bringing the state to a higher level of development.

Chief Minister Datuk Seri Musa Aman when launching OBG’s ‘The Report: Sabah 2011’ here yesterday said it also touched on the fact that as the Sabah Development Corridor (SDC) enters its second phase, its implementing agency Sedia now places greater emphasis on measures to promote investments in the development corridor launched three years ago.

This is to ensure that benefits of progress will be equitably shared in line with the 1Malaysia concept, he said, adding that the SDC’s second phase also coincides with the 10th Malaysia Plan (10MP) which is focused on accelerating economic growth by attracting greater private investment and participation as well as provide specialised infrastructure with the provision of first class human capital.

“In addition, this report provides an insight of the vision to turn Sabah into a progressive and developed state by year 2025. I believe this report which outlined four main growth sectors namely tourism, agriculture, manufacturing and logistics and their role in creating as well as shaping the foundation of Sabah’s economy will attract investors into the state.

“I am also happy to note that apart from the major public sector-led SDC projects, the private sector-led initiatives in tourism, real estate, agro-industry, oil and gas and green technology were also highlighted. I like to announce that the SDC has secured committed cumulative investments amounting to RM57.016 billion since its launch in January 2008,” he said.

According to Musa, the government is fully aware that the state cannot expand its economy just by depending on domestic investment alone in view of the challenging and competitive era of globalisation.

For Sabah to expand its economy, it needs to open up and attract a bigger share of foreign participation in the local economy, he said, adding it must also continue to seek overseas business partners and engage in new opportunities especially in identified growth sectors.

In view of this, the state government and Sedia in particular will undertake aggressive measures to promote a public-private partnership programme that can attract investments in strategic industries within the designated clusters.

Musa stressed that Sabah must showcase SDC flagship projects to targeted investors through investment promotions, exhibitions and trade missions as well as by identifying and promoting other sources of growth.

According to him, both the public and private sectors must complement each other in facilitating more opportunities for investment and business in the state as well as to place Sabah on the global and business investment map as a preferred destination for business, culture and nature.