Bruneians keen on stake in SDC
Published on: Thursday, August 20, 2009
Kota Kinabalu: A delegation from the Brunei Investment Agency (BIA), the investment arm of the Brunei Government, was briefed on the investment opportunity under the Sabah Development Corridor (SDC) here.The delegation, led by Brunei Minister of Communication cum BIA Chairman, Pehin Abu Bakar Apong, listened to the briefing by Chief Executive of Sabah Economic Development and Investment Authority (Sedia), Datuk Dr Mohd Yaakub Hj Johari.Yaakub told the group that SDC has received quite a number of interests from Brunei investors.
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"The development of the corridors in Malaysia encouraged the participation of the private sectors to lead the major developments planned under the corridors."Indeed, the tourism sector under SDC has been successfully led by the private sector," he said."Our main task currently is meeting the parameters set by the foreign investors and to align them with the local requirements."We believe the private sectors has the capacity to eventually serve as the engine of growth with the assistance of Sedia in fast tracking strategies to allow for private sector initiatives once the public sector investment comes to an end."
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Yaakub said one of SDC's main objectives was to eliminate poverty in Sabah, adding they believe the involvement of the private sectors were crucial as their investment would eventually lead to a trickle down effect that will bring benefits to Sabahans particularly the poor.He also highlighted a number of areas where Brunei and Sabah could collaborate.
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"Brunei can, for example, take a lead in maritime sector as Brunei was once a leader in the maritime activities in the region."Another area where Brunei can participate is in the development along the coastal areas of Tuaran to Kudat, which is similar to the development of the Gold Coast in Australia," he said.As for the tourism sector, Yaakub said one of the areas promoted under the SDC was the development of hotels and signature resorts."Perhaps, Brunei may also look into the possibility of investing in construction of holiday homes as there are an increasing number of holiday home buyers in Sabah especially from the United Kingdom."Meanwhile, Pehin Abu Bakar concurred that there were vast opportunities for Brunei and Sabah to work closely together."A synergised effort between the two states are indeed possible. However, the issue of connectivity in terms of land, air and maritime need to be addressed first," he said.The liberalisation of air services, however, has helped increase air travel between here and Bandar Seri Begawan, he said, adding the number of commercial vehicles travelling from Kuala Labu to Sabah has increased by 100 per cent."Indeed, the ferry operators from Brunei is looking forward to get the ferry, which is currently being built in Japan (and this) will help cut the travelling time by road from Serasa to Menumbok and eventually to Kota Kinabalu," he said.Stay up-to-date by following Daily Express’s Telegram channel.
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