Working together to bring in more investment

  • Metro News
  • Monday, 24 Sep 2018

Dr Mohd Yaakub (third from right) presenting a memento to Leiking (second from left)

KOTA KINABALU: The Sabah Economic Development and Investment Authority (Sedia) is ready to collaborate with agencies under the International Trade and Industry Ministry (MITI) to transform Sabah into a regional economic powerhouse.

A delegation from Sedia, led by chief executive Datuk Dr Mohd Yaakub Johari, paid a courtesy call on minister Darell Leiking in Putrajaya.

The delegation briefed Leiking, who is also Penampang MP, on the Sabah Development Corridor (SDC) programmes and initiatives.

Dr Mohd Yaakub informed the minister that Sedia is ready to foster closer collaboration with agencies under MITI, such as the Malaysian Investment Development Authority and Malaysia External Trade Development Corporation.

Over the years, Sedia has been participating in a series of exhibitions and expositions both locally and internationally, working closely with MITI and other agencies involved in investment promotion activities.

These efforts include overseas trade and investment missions, welcoming courtesy visits by representatives and business delegations of foreign countries as well as attending meetings and promotion-related events at national and international level.

Subsequent to the launch of the Sabah Development Corridor (SDC), Sedia has been promoting the state with the investment tagline, “A preferred destination for business, culture and nature”.

According to a Sedia spokesman, by the second quarter of this year, SDC had recorded RM166.33bil of cumulative committed investments.

The spokesman said investments in SDC had contributed towards Sabah recording gross domestic product growth of 8.2% in 2017, which was the fastest in Malaysia and surpassed the national average of 5.9%.

Citing a report by the Statistics Department, the spokesman said the rapid economic growth was driven by government initiatives, especially SDC projects.

“Sedia also welcomes the announcement by the minister to establish an aerospace industry in Sabah.

“In order to enhance seamless movement of air passengers and cargo, the Federal Government, through Sedia, had also commissioned an Air Freights and Aviation Hub Masterplan Study.

“The location, once finalised, could also provide support for various aviation businesses and services such as logistics for e-commerce, premium outlets, fixed-based operation for private jets and charter, maintenance, repair and overhaul services, and aerospace manufacturing industries,” said the spokesman in a statement.

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