Red tape hindering investors must go – CM
05 Mar 2021
KOTA KINABALU: The State Government wants all hurdles hampering investments to be removed to facilitate investments into Sabah.
“Red tape faced by well-meaning investors will only hurt our efforts to draw investors to Sabah, hence we must remove them to facilitate investments,” said Chief Minister Datuk Seri Hajiji Haji Noor when chairing the first board meeting of Invest Sabah Bhd (ISB) today.
Invest Sabah Bhd was established in December last year under the purview of the Ministry of Industrial Development to promote both local and foreign investments.
It will act as a one-stop agency for investments into the state providing investors with information on investment requirements including licensing approvals and building networking platforms among others.
Hajiji said ISB will act as the secretariat for an investment committee comprising state and federal agencies as well as relevant stakeholders to vet all investment proposals.
He said ISB’s success will be a boon to the state’s economic progress in achieving one of the main thrusts of the Halatuju Sabah Maju Jaya (SMJ), the GRS government’s five-year development plan.
SMJ’s focus will be on three main thrusts, namely agriculture, tourism and industrial sectors; human capital and people’s well-being, as well as infrastructure network and green sustainability.
The meeting endorsed the appointment of Deputy Chief Minister and Minister of Industrial Development Datuk Dr Joachim Gunsalam as ISB Deputy Chairman and Board Members namely Datuk Seri Sr Safar Untong (State Secretary), Datuk Nor Asiah Mohd Yusof (State Attorney-General), Hj Rusdin Riman (Permanent Secretary, Ministry of Finance), Thomas Logijin (Permanent Secretary, Ministry of Industrial Development), Bernard Liew (Director, Lands & Surveys Department), Helena Masry (Director, State Economic Planning Unit), Dato Azman Mahmud(CEO, MIDA Malaysia), Datuk Tan Kim Beng and Datuk John Lo (SEAC), Datuk Madiyem Layapan, Fu Fui Leong (Company Secretary) and Anndirrina Chong(Board Secretary).
Datuk Madiyem Layapan was also officially endorsed as ISB’s Chief Executive Officer.
Source: The Borneo Pos