Teo woos Chinese entrepreneurs
Published on: Thursday, October 02, 2014
KOTA KINABALU: State Minister of Special Tasks Datuk Teo Chee Kang said Chinese entrepreneurs showed keen interest on Sabah during his dialogue sessions with them at the Tsinghua University and Peking University in China recently. He said many of those who attended the dislogues were successful entrepreneurs, including owners of listed companies, who came from various parts of China to further their studies at the prestigious universities. During an interview by journalists from Chinese news portal zj.qq.com and Ren Min Lun Tan during his working visit to China from Sept 21 to 28, Teo said:
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"The biggest challenge in the dialogues with the entrepreneurs at the Tsinghua University and Peking University was that most of them lacked knowledge about Sabah." He pointed out that Kuala Lumpur often sprang to the minds of Chinese investors when Malaysia was brought up.Teo took the opportunity to introduce Sabah to the Chinese in terms of our resources, main thrusts of economy and business opportunities. "Apart from the natural beauty, Sabah is also blessed with rich natural resources like oil and gas and fertile soil," he said.
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"The State Government is focused on the development of oil and gas and oil palm plantation," Teo said, adding that foreign investments, especially in downstream activities, are encouraged. In addition, Teo said Sabah has the highest oil reserves at 30 per cent among the four oil-producing states in Malaysia, namely Kelantan, Terengganu, Sabah and Sarawak.
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Sabah also used to be a main exporter of timber but the Sabah Forestry Policy is now in place in an effort to conserve the environment and ensure sustainable forest resource management. At present, 58 per cent of Sabah is covered in forests. Furthermore, Teo said Sabah could be a logistics hub for Chinese cargo vessels that are heading for Western countries. Teo also introduced the Malaysia My Second Home (MM2H) programme to the Chinese entrepreneurs, whereby foreigners who meet the criteria, including purchasing property at a minimum price of RM1 million in Malaysia, will enjoy 10-year renewable visa. Teo also addressed the concerns of some Chinese entrepreneurs on the safety in Sabah by reassuring them that the Chinese here did not face threats to their lives or property. "There have been kidnap-for-ransom cases in Sabah recently, but the Malaysian Government has taken the necessary measures to ensure security in Sabah."Teo said Professor Ai Xin Jue Luo Qi Yi has led many Chinese entrepreneurs who were undertaking Executive Master of Business Administration (EMBA) course at Tsinghua University and Peking University to meet with him in Sabah for the past year. He urged Chinese entrepreneurs to visit and uncover the business opportunities in Sabah, adding that the State Government would facilitate and provide assistance to investors. Stay up-to-date by following Daily Express’s Telegram channel.
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