|
Sabah's economic transformation program spearheaded by POIC |
|
|
|
|
Wednesday, 12 May 2010 |
|
 Sabah is headed for an unprecedented economic transformation after hitting some slippery patches during the recent global economic crisis.
Chief Minister Datuk Seri Musa Aman said the Sabah Development Corridor (SDC) blueprint, the New Economic Model and POIC Sdn Bhd and the Kota Kinabalu Industrial Park would usher in a new era of development in the state.
In this respect, he said, there was now a greater need for the ministries, departments, agencies and government link-companies to work together, share resources and encourage each other to achieve the desired result.
"We must highlight our similiarities in pursuing the goals of the NEM and SDC as well as our focus on continuous and sustainable economic development," he said at the groundbreaking ceremony of eight companies at the Lahad Datu palm oil industrial cluster (POIC Lahad Datu) here on Thursday.
Musa said Sabah has received the highest development allocation from the federal government in the last few years, especially under the 9th Malaysia Plan (9MP).
"The beneficiaries of federal funding include POIC Lahad Datu. It received RM153 million under the 9MP and is expected to receive a huge allocation under the 10MP," he said.
He said this showed that the federal government recognised that Sabah needed a massive injection of funds for infrastructure.
"This is the only way we can attract quality investments necessary to bring industrialisation to new heights," he said.
Musa said said the increasing number of investors who had come to POIC Lahad Datu showed that the state government was right in implementing the palm oil industrial cluster concept.
He said POIC Lahad Datu had attracted 25 investors who bought land worth over RM1.8 billion.
Musa said the state government wanted to boost development in the eastern part of Sabah to narrow the regional development imbalance, and make it a player in the Brunei-Indonesia-Malaysia-Philippines East Asean Growth Area.
One of the companies involved in the ground-breaking ceremony, Lahad Datu Edible Oils Sdn Bhd (a subsidiary of the Singapore-based plantation giant Wilmar) has acquired 12 hectares, he said.
Its initial plan is to put up a bulking installation for oils, he said.
Four of the eight companies are involved in fertilizers -- Agri Borneo Fertilizers Sdn Bhd, Behn Meyer & Co (M) Sdn Bhd and Felda Agricultural Services Sdn Bhd and Sawit Raya Oils (Sabah) Sdn Bhd.THE END
Source: Bernama |
Comments
You must javascript enabled to use this form
You are not authorized to leave comments. Please
Login first.
If you are not a member, please register
here.
