The location of the project site, situated alongside Kalumpang River, Tawau.
The project site is an estimated 35 minutes away from Sipadan Island, by speedboat.
KOTA KINABALU: The Sabah Economic Development and Investment Authority (SEDIA) clarified that the proposed RM2.5 billion tourism-based integrated development project is to be situated in Semporna and not in Sipadan.
SEDIA said yesterday that it had been inadvertently stated that the project is to be sited on Sipadan Island.
The meeting last week with the China investors of the project was also attended by an officer from the Ministry of Tourism, Culture and Environment, and not an officer from the Sabah Tourism Board as previously stated, it added.
As commented by Tourism, Culture and Environment Minister Datuk Seri Panglima Masidi Manjun, SEDIA said the project with Diving Best is in fact an expansion of the existing Sipadan Mangrove Resort (SMR), an Entry Point Project (EPP) listed under the Regional Cities and Corridors programme with an estimated investment value of RM491 million, and set to generate RM114.9 million in GNI in 2020.
The collaboration between Diving Best and SMR is the result of successfully matching the China investors with a local business partner after their first meeting with SEDIA. The location of the proposed project was decided on private land belonging to SMR, with a land size of 280 acres and was chosen for its close proximity to Sipadan Island; 35 minutes by speedboat.
SEDIA recognises the significance of preserving Sipadan Island in its natural state, and any confusion that had arisen from the previous statement is deeply regretted, it said in a statement.
As listed in the Sabah Development Corridor (SDC) blueprint, one of the three key principles underpinning SDC activities is the need to ensure sustainable growth via environmental conservation. The other two principles are capturing higher value economic activities and promoting balanced economic growth with distribution. These three principles continue to guide SEDIA in its role of facilitating investment into Sabah, of which it has managed to capture significant interest.
SEDIA last year had its accounts for the year 2012 given a clean bill of health by the Attorney General, for the fourth straight year in fact. This is a clear indication of the good management practices within SEDIA, of which SEDIA has strengthened its management process by achieving the MS ISO9001: 2008 standard to further enhance the quality of these practises. This effort was made to ensure the confidence of all stakeholders within the SDC and safeguard the public confidence.
Since the start of the second phase of the SDC, SEDIA has accordingly been more aggressive in attracting investments into Sabah. In line with this emphasis, SEDIA has been participating in State-sponsored and MITI/MIDA-led investment and trade missions locally and abroad.
The response from these missions has been very encouraging, having stirred significant interest and drawing substantial investment in the sectors promoted under the Halatuju agenda and the SDC, vis in tourism, agriculture and manufacturing, amongst others.
These measures have begun to show results, as evidenced by the vibrant investment climate and from its launching in 2008, cumulative committed investment in the SDC has reached RM127 billion as at the end of 2013.
It was announced at the end of February, 2013 by the Malaysian Investment Development Authority (MIDA) that the Sabah Development Corridor recorded the highest investment garnered in the manufacturing sector for the year 2012, at RM5 billion.
To further increase investor interest in the SDC, the Federal Ministry of Finance had also approved a tax incentives package listed under the SDC. The package will enable SEDIA to further attract investors globally and from other parts of Malaysia, promoting Sabah as an ideal location for conducting business.
The investment tax incentive package will cover activities in, among others; tourism, manufacturing, agriculture, and major industries located within the Strategic Development Areas of the SDC. These tax incentives are applicable for applications received by SEDIA up until 31 December 2020.
With all the measures being implemented by the State and Federal Governments, Sabah in particular and Malaysia as a whole will continue to prosper. Therefore the undivided support of all Sabahans towards the SDC initiative will enable the enormous task of transforming the state and national economy continue, unhindered.