New Sabah Times, Photo Credit to New Sabah Times
clock 28-02-2018
hit 2,331
Labuan's Manufacturing Sector Records RM4.2billion Investments in H1 2017

Labuan's manufacturing sector has attracted RM4.2 billion in investments from January to June 2017 (H1 2017) in 28 projects which had created over 3,000 jobs.

Deputy Minister of International Trade and Industry, Datuk Ahmad Maslan, said the biggest investments were from Petronas Methanol (Labuan) Sdn Bhd, followed by Sabah Gas Industries and Amsteel Mills Sdn Bhd.

He said the Ministry of International Trade and Industry (MITI) would assist in attracting additional investments as Labuan's future depended on the success of the recently-launched Labuan Development Blueprint 2030.

"We are not only focusing on oil and gas (O&G) investments but also on other sectors that have yet to be fully explored.

"The recovery in the O&G sector augurs well for the island's economic landscape" he said this to reporters after visiting the Labuan Shipyard and Engineering Sdn Bhd (LSE) on Tuesday, 27 February.

He said the Malaysian Investment Development Authority had always included Labuan as part of its promotions during its trade missions to attract potential foreign investments.

On his visit to LSE, Ahmad said, MITI was looking at assisting the company secure more businesses so that it would be able to regain its glory in the shipping industry in terms of vessel building and repairs.

"The company is facing challenges in business activities but it has managed to secure a contract for repairs of Brunei warships recently, which is a sign of recovery for the company" he said.

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