FSI help urged to gain economic hub status
Published on: Monday, November 30, 2015
Kota Kinabalu: The Federation of Sabah Industries (FSI) has been urged to continue supporting the government in pushing for the State to gain economic hub status in the region.Chief Minister Datuk Seri Musa Aman said trade associations are important partners of the government where he looks forward to a continued partnership with FSI. He said FSI also provides valuable input about the industrial sector to the government through its active participation in various consultative panels and committees, which have helped in planning and policy formulations, and urged them to continue their good work. ADVERTISEMENT "Let me assure you that the government listens and that we are finding workable solutions to resolve outstanding issues."I urge you to continue to support the government in pushing for Sabah to gain hub status. The government is all for options that could propel Sabah to economic prosperity. We see this happening should we achieve hub status. Your theme for tonight — "Sabah: Hub For The Far East – The Future Is Now" is timely.He said this in his speech at the 32nd Anniversary dinner of the Federation of Sabah Industries (FSI) at Hakka Hall Tg Lipat, here, on Sunday."Events such as this provide an opportunity to hear from FSI on your latest initiatives. FSI as a representative of the industry, especially manufacturers, has been working tirelessly in concert with the government of the day and other trade associations for common causes, notably those affecting the industry in terms of high-cost of production. You have always highlighted issues that affect your members and the industry and the rakyat in general. ADVERTISEMENT "Various government policy changes that were necessitated by our nation's quest to achieve a high-income economy by 2020 has impacted the industry. Additionally, we have just crossed the threshold of the Goods and Services Tax (GST) introduction and recently, we have seen the ringgit depreciate. "I understand the industries are also bracing for minimum wage hike to RM920 for Sabah effective July 1, 2016. Therefore, industrialists must find creative ways to mitigate such impacts and must find ways to further diversify the economy, especially through downstream processing.
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"Sabah will offer ample potentials to be tapped ahead. Under the 11th Malaysia Plan, the launch of the Pan Borneo Highway project signifies enhanced logistical linkage between Sabah and Sarawak, providing new markets as well as enabling local companies to benefit from its construction." Meanwhile, Musa said the Sabah Development Corridor will continue to attract more investments, and together with Kota Kinabalu being designated as growth catalyst city to enable economic growth, the future looks bright."Members and the industrial sector in general should look to FSI for possible partnerships with foreign investors as a way to expand your business. "FSI has cultivated close working ties with foreign embassies and trade chambers globally, organising beneficial activities such as trade, marketing and investment missions, and business matching." Stay up-to-date by following Daily Express’s Telegram channel.
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He said he was made to understand that FSI jointly with MICCI Sabah will be bringing in foreign and local business people and exhibitors together in the Sabah International Expo 2016 (SIE2016), happening in Kota Kinabalu from 15th to 18th September next year. "Do take the opportunity to participate and explore new opportunities and possible joint ventures."