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Sabah aiming to be significant industrial player by 2025 |
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Monday, 29 June 2009 |
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 The Sabah government aims to make the state the location of choice in Asia for resource-based manufacturing by 2025, said Chief Minister Datuk Seri Musa Aman.
To achieve the vision, the state is looking at several phases starting with measures to stimulate the growth of existing industries and attract private sector investment in targeted areas.
"The first phase is about seeding and catalysing growth in existing and new industries.
"Initiatives will be focused on fixing the basic infrastructure gap, investing in human capital and putting in place pro-business and pragmatic incentives to make it compelling for companies to shift to higher value added activities in Sabah," he said in his opening speech at the Sabah Investment and Trade Dialogue on Manufacturing and Services sectors, here Tuesday.
His speech was read out by State Minister of Industrial Development, Datuk Raymond Tan Shu Kiah.
Musa said the second phase will build on the foundation, and focus will be on spawning local small and medium enterprises (SMEs) and linking them to the supply chain of larger established firms.
As Sabah enters the third phase, the manufacturing sector is expected to be a key contributor to the Sabah's gross domestic product (GDP), by creating high-value employment and supporting a vibrant manufacturing base, he said.
"By 2025, Sabah's sophistication in terms of mix of skills base, companies and linkages to key affluent markets in North Asia will allow it to be the preferred location for investment in resource-based manufacturing and beyond," he said.
Musa said Sabah's manufacturing focus will be on leveraging on its natural endowments such as palm oil, rubber, cocoa, biodiversity, oil and gas, mineral and other resources.
He said among the major programmes identified for the manufacturing sector under the Sabah Development Corridor (SDC) include the continued development of the palm oil industrial clusters in Lahad Datu and Sandakan, the establishment of an integrated petrochemical complex and the development of the biomass industry.THE END
Source: Bernama |
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