21 May 2012

3 factors why investors love Sabah

KOTA KINABALU: SABAH'S political stability, sound policies and focused economic directions  are three key factors that have caught the attention of the country's business community.

Associated Chinese Chambers of Commerce and Industry of Malaysia president Tan Sri William Cheng Heng Jem said this here yesterday after leading a delegation for a meeting with Chief Minister Datuk Seri Musa Aman.

"Rapid economic development has taken place in Sabah. It looks different and the economic landscape is different," Cheng said, adding that the three factors were prerequisites investors looked for in a country or state.

"Sabah is rich in natural resources, such as timber, minerals, oil and gas. However, what is important is it takes the right leadership to take the state to greater heights."

Cheng said tourism and agriculture, including aquaculture, were doing well in the state and had the potential to grow.

"I am also told that Sabah has strong environmental conservation laws.

"This is also good in terms of ecotourism."

Meanwhile, Musa said investors were interested in Malaysia because of the conducive atmosphere, good government policies and stable politics under the able leadership of Prime Minister Dauk Seri Najib Razak.

He said the environmental laws on conservation had a long-term positive impact on the overall development of the state.

"Protecting the forests, phasing out logging and focusing on reforestation means that future generations can once again have tropical rainforests, which had been logged, in 30 to 40 years' time."

Similarly, he said a clean and unpolluted environment helped to draw investors to Sabah.

Citing a United States-based multinational company, Darden Incorporated, he said the food giant had committed about US$2 billion (RM6.3 billion) to develop lobster farming off the coast of Semporna because the water was not polluted.

"They also told me that another important reason why they chose to invest here was because of the prevailing economic and political stability in Malaysia."