Yong Teck Lee
KOTA KINABALU: The Sabah business community should not be unduly worried that none of the 19 memorandums of understanding (MoUs) signed in Beijing yesterday, in conjunction with the Prime Minister’s visit to China, involved any Sabah company or investments in Sabah.
POIC Sabah Chairman Datuk Seri Yong Teck Lee said Sabah has already been receiving a healthy stream of Foreign Direct Investments (FDIs), including from China and Korea.
The China investments in Sabah, such as the Kibing Solar New Materials for solar glass manufacturing is a quality investment that provides quality jobs and multiplier effects to the Sabah domestic economy.
“POIC Sabah itself has seen a strong upsurge in investments in palm oil downstream processing, investments in green energy from biomass, logistics companies setting up at POIC and increased freight cargo at POIC ports, including collaboration with the China Shandong ports and Korean ports.
“This was especially so after the launch of the POIC ports by Chief Minister Datuk Seri Hajiji Haji Noor last year. Investors interests at POIC Lahad Datu have also surged when the Chief Minister announced the Free Trade Zone Initiative on September 5 last year,” he said in a statement today.
As reported in the media, he said over the last two years of the Hala Tuju Sabah Maju Jaya development plan, foreign investments at KKIP and SOGIP and in the agro-fisheries industry have also been coming on stream.
“In the coming months, it is expected that Sabah-China trade and tourist arrivals will see an upward trend.
“The latest reaffirmation of the close ties between Malaysia and China that have been built up over 50 years will enhance mutual confidence among the Sabah business community and China’s investors in Sabah,” said Yong, who is also a Nominated Assemblyman.
