Sabah also eyes China's RM40b fund

Kota Kinabalu: Shareda President Datuk Francis Goh Fah Shun urged China investors to seriously invest in projects like the Tanjong Aru Eco-Development and to help expand Sabah's railway connectivity."Sabah is a very beautiful scenic place, and the real estate price per square foot between RM500 and RM1,000 on average is very cheap comparatively if converted into other currencies like the dollar and the renminbi," he said.

China recently pledged US$40 billion to a Silk Road Fund designed to improve trade and transport links in Asia.

Its President Xi Jinping says the fund will be used to support the development of 'One Belt, One Road', a development strategy and framework of China that focuses on connectivity and cooperation among countries, which consists of two main components, the historic land-based 'Silk Road Economic Belt' and historic oceangoing 'Maritime Silk Road', when joined together the overland route and sea route meet in Eurasia form a round loop belt.

China is renowned for her tourists spending forays around the world, and her expertise in seaport, airport, railway, roadways and other infrastructural development expertise, notably in Africa, like Cameroon's Kribi port.

SPONSORED CONTENT

Sabah revenue hits RM6.97 billion: Hajiji says GRS State Government may see full term

Kota Kinabalu: The Sabah Government continued its momentum in managing the economy in line with the commitment and spirit of the Sabah Maju Jaya (SMJ) when it posted record high state revenue of RM6.973 billion last year.

Goh extolled the virtues of Sabah and the Malaysia My Second Home Programme (MM2H), and even if the Sabah state government lacks funds, Goh suggested that China undertakes infrastructure turnkey projects in return for revenue collecting rights for a number of years, for example, a 50-year concession arrangement to be negotiated.

Representing the Kinsabina Group of Companies as its Chief Executive Officer, Goh presented his paper 'Kota Kinabalu as a catalyst growth city' at the China-Asean Top CEO Business Summit (East Malaysia) in conjunction with the East Malaysia official launching of the 14th Asia Pacific International Entrepreneur Award 2015 on Sunday at the Ming Garden Hotel Ballroom.

Stay up-to-date by following Daily Express’s Telegram channel.

Daily Express Malaysia

At the event, the hundred attendees also learnt about what China can offer its Asean partners in the light of the formation of the Asean Economic Community by end 2015, and whether businesses especially in Sabah are prepared to tap into the vast business opportunities now and in future.

A forum speaker said that China can offer its corporate culture, which in the Sabah context, for example, the speed of building in the construction industry in Sabah is a case in point, technology like its rail way improvement and trains in Sabah, capital investment and financing capital as many businesses are hoping for the setting up of the Bank of China in Kota Kinabalu, and the scope of the China market for goods and services, as seen by the purchasing power of China's tourists.

Try 1 month for RM 18.00

Try 1 month for RM 18.00

Try 1 month for RM 18.00