HEADLINES :


ADVERTISEMENT



We need investors who can integrate: Tangau
Published on: Tuesday, November 12, 2019
By: Larry Ralon
Text Size:

KOTA KINABALU:  Sabah is in need of investors who are able to integrate with all relevant local stakeholders in the upstream, downstream, financing and so on, as this helps create the desired investment ecosystem in the State.  

Deputy Chief Minister cum Trade and Industry Minister, Datuk Seri Wilfred Madius Tangau, said the State also have to go for higher value investment, but ones that need to be within the sustainable development goals (SDGs) of the United Nations. 

“In the process of establishing the ecosystem for investment in Sabah, we do need investors who would be able to integrate with all the stakeholders. 

“Like for the timber and forestry industry, these stakeholders include those who are doing plantation or in the upstream, those in the downstream processing, those in the financing and so on. We need this kind of integrator, which can be local entrepreneurs or foreign investors. 

“And whatever we do, it need to be within the sustainable development goals of the United Nations. And which means we have to go for higher value of investment...we are talking about bio-plastic, bio-chemical and so on,” he told reporters after officiating the opening of  the Forum on Forest Plantation, Processing and Sabah’s Economic Futures, organised by Timber Association of Sabah (TAS), at the Palace Hotel, Monday.

But this does not mean the State cannot continue with traditional products, like the timber downstream products, but it have to be something that is sustainable, said Tangau. 

“What it means is that the integrator, the investor, must be able to collaborate with the players in the upstream, downstream and the financing side. That is what we are looking at,” he explained. 

 “We are looking at, again, integrator. This is a challenge for us to organise and secure funds to get the infrastructure done. But we can have integrators, those people who can come up with business models to provide the funding. 

“And it can be addressed commercially. So these are some of the options, some of the things we are looking at. 

“All we are saying here is that it has to be innovation-led economy. We have to innovate, in terms of production in the downstream, in terms of coming up with infrastructure, we have to innovate,” he said. 

He said the State Government, on its part, will play as a facilitator and provider of policies conducive for them.  

“We (the State Government) are here as facilitator. We provide the policy conducive for them. In another words, we are here to facilitate and not to frustrate. 

“We keep on saying to officers, please don’t frustrate. If you (trade and industry investors and players) came across officers who frustrate some of the things you do, you can come and talk to us...because we want government officers, the whole government machineries to facilitate the process,” he said. 

Meanwhile, Tangau said his Ministry is looking at setting up the Sabah Timber and Forestry Council as had been proposed by the timber upstream and downstream industry players in the State to serve as an umbrella body for all of them. 

He said although the Chief Minister had already been briefed about it by the industry players concerned, he will still need to bring the proposal to State Cabinet meeting for approval. 

“I am looking at the formation of Sabah Timber and Forestry Council. Let’s start with that. As soon as the State Cabinet approve it, we will go ahead. The Chief Minister has already been briefed, (so) I only have to table it at the Cabinet meeting,” he said, adding apart from that he is also looking at transforming the Industrial and Research Department into Invest Sabah. 



ADVERTISEMENT


Other News
Advertisement 


Follow Us  



Follow us on            





Sabah Top Stories