The series that started in January this year had so far, featured Perlis, Kedah, Kelantan, Pahang and Terengganu. It serves to provide updates and insights on the investment opportunities and facilities in every state in Malaysia. The event, which was held at MIDA headquarters today involved presentations by 5 Sabah Government Agencies namely the Department of Industrial Development and Research, Kota Kinabalu Industrial Park, POIC Lahad Datu and Sandakan, and Sabah Oil & Gas Development Corporation Sdn Bhd.
En. Arham highlighted that Sabah state government has set a goal to increase its industrial share of Gross Domestic Products (GDP) up to 35%, from the present 7.5%. “It may seem like a tall order but nothing is impossible. Sabah already has many attractive advantages in place and with concerted efforts from all stakeholders, I believe this aspiration can be achieved,” he added.
The Deputy CEO of MIDA also raised the concern of investors in the East Coast of Sabah. He shared that there are on-going measures being undertaken by the Government to address this matter. The Eastern Sabah Security Command (ESSCom), set up in 2013, comprising input and personnel drawn from the police, military and the Malaysian Maritime Enforcement Agency (MMEA), has the expertise and intelligence to empower investors in protecting their assets. They are proactively ensuring the safety of the Eastern Sabah Security Zone (Esszone). “We advise any investor to come to us for the correct information and seek our input in how to include preventive security measures in the business plan,” said En. Arham.
Participants were also urged to take advantage of the available facilities provided by the Government such as the matching grant under the Domestic Investment Strategic Fund, and the Less Developed Areas Incentive. In embracing Industry 4.0, the Government has also introduced several incentives such as Capital Allowance for ICT equipment and software, Automation Capital Allowance and Soft Loan Scheme for Automation & Modernisation (SLSAM) to encourage more companies to adopt smart manufacturing technologies and processes that will in return help in reducing dependency on foreign labour, improve productivity and enhance their long term competitiveness.
Since the introduction of DISF in 2012, MIDA has approved 308 projects with investments amounting RM14.7 billion with an approved grant value of RM1.51 billion. However, there is no company in Sabah that has received a grant under the DISF scheme. For the Less Developed Areas incentive, there is one project in Sabah that has been granted the incentive, thus far.
MIDA is the government's principal promotion agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Starting operations in 1967 with a relatively small set up of 37 staff, MIDA has grown to become a strong and dynamic organisation of over 700 employees. Headquartered in Kuala Lumpur Sentral, MIDA today has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram and Facebook, @OfficialMIDA.
For more information, please contact:
Mr. Ahmad Tajudin Omar
Director, Domestic Investment & Supply Chain Division, MIDA
Tel.: 03-2267 3627
Email: [email protected]