KOTA KINABALU: Amid a slower economy, Datuk Seri Mohd Shafie Apdal stressed the need for local investments and called on Sabah businessmen to invest more in the state.
Addressing the Chinese community in Sandakan, the Chief Minister said with the general election over, the focus for 2019 was for everyone to work together and develop Sabah.
“Sabah businessmen must come out and invest. No point keeping your money in the bank and earn interest only.
“I am sure through investments in various industries, you get bigger profits and also help in employing locals,” he said at state-level Chinese New Year open house yesterday.
Shafie said doors were open for genuine investors who faced problems getting their plans off the ground due to red tape.
Speaking to reporters later, he said the state, through Sabah’s Trade and Industry Ministry was in the process of identifying industries that could be developed in various districts.
For example in Sandakan, he said downstream wood-based industries and oil palm industries could be further developed while the tourism, as well as the fishery sector, also has the potential for further investments.
Shafie said the state was also hoping the Transport Ministry would not only extend Sandakan airport runway but also provide cargo storage facilities for exported marine products.