CM: Foreign investors will bring benefits to the people


  • Business
  • Thursday, 19 Apr 2007

KOTA KINABALU: Incentives for foreign investors coming to Sabah will not result in the state's assets and resources being "given away."  

Chief Minister Datuk Musa Aman told the Sabah State Assembly that incentives such as land were only leased to investors. 

"For example, Ballarpur Industries Ltd (of India) which has acquired Sabah Forest Industries Sdn Bhd cannot take land from Sipitang back to India.  

"Maybe they can take a can or two of the soil but not the land," he said. 

Replying to a supplementary question from Tan Sri Pandikar Amin Mulia (Tampasuk), he said Sabahans should not have any fear about investors coming to the state as the spin offs from their businesses were bound to benefit local communities. 

"Their coming to Sabah should not be perceived as causing problems, but rather a blessing for the state," Musa added. 

He said the government would provide incentives after carefully screening investment applications. 

Replying to the original question from Datuk Mohd Lan Allani (Sulabayan) earlier, Assistant Minister of Finance Datuk Sapawi Ahmad said among the projects to be carried out in the state under the Ninth Malaysia Plan through privately funded initiatives were the construction of schools and hostels. 

He said the additional buildings for the Universiti Teknologi Mara (UiTM) Sabah campus at Kuala Menggatal near here would also be built through this plan. 

Sabah has recorded a slight increase in the number of tourist arrival in the last two months after the launching of Visit Malaysia Year 2007, Assistant Minister of Tourism Datuk Karim Bujang said. 

He said the state received nearly 354,000 visitors in January and February compared to just over 322,000 during the same period last year, representing an increase of about 10%. 

Meanwhile the House passed three Bills including a Supplementary Supply Bill totalling RM50mil. 

Of that amount, RM20mil had been earmarked for the construction of six blocks of five storey flats for the Kampung Sri Tanjung squatters who are being relocated to make way for the Kota Kinabalu international airport expansion project.  

The House also passed an amendment to the State Honours Enactment 1963 to increase the number of Darjah Yang Amat Mulia Kinabalu Second Class carrying the title Datuk recipients from the present 950 to 1,050. 

The Assembly also passed amendments to the Sabah Parks Enactment 1984 that among others empowered the Yang Di Pertua Negri to convert any forest reserve, game or bird sanctuary to be a park or nature reserve. 

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Next In Business News

KLCI futures to trade higher next week
CPO futures to move higher next week
Biden rescinds Trump-era health insurance requirement for new immigrants
Venezuelan court seizes newspaper office in defamation case
FTC officials say 7-Eleven purchase of Speedway chain likely illegal despite closing
GLOBAL-LNG-Asian spot prices hit $10 on global supply disruptions
With superheroes and sci-fi, Disney+ outlook bright
Picasso oil painting sells for over US$100mil at New York auction
Oil prices jump as major US fuel pipeline restarts but COVID concerns cap gains
GLOBAL MARKETS-US and world stocks surge in recovery; dollar, bond yields dip

Stories You'll Enjoy


Vouchers