Sabah Investment Board to Assist Investors
Chief Minister Datuk Seri Shafie Apdal said the State Government would be setting up the Sabah Investment Board – a new agency that seeks to provide a more effective and efficient service and assistance to investors.
Shafie said that the matter had been agreed upon by the State Cabinet during a meeting on Wednesday.
“The Sabah government will facilitate the entry of foreign direct investment (FDI) and domestic investment into the state,” said Shafie at the Sabah Entrepreneurs Awards 2019 here last night.
The establishment of the Sabah Investment Board is among the five plans set out by the State Government in its bid to be an industrialised and developed state by 2030.
Other than the establishment of the said agency, the State Government is also committed to address some of the common issues that are faced by investors which include lack of power and water supply, the lack of lands and its expensive price, port facilities and so on.
Shafie added that the State Government will also give more focus in the implementation of trade missions to countries such as South Korea, Japan, China, the US and other EEC countries.
“We will focus on these countries as we are confident with their strengths in terms of technology, management, capital, market and sources based on a win-win situation,” added Shafie.
He further pointed out that the close relationship between the agencies, departments and ministries is vital for the state’s industrial sector.
His speech was read by his deputy cum State Trade and Industry Minister Datuk Seri Wilfred Madius Tangau.
Shafie said that the Sabah Investment Board will be similar to the agencies that were set up in Selangor, Kuala Lumpur, Johor and Penang.