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KOTA KINABALU  Chief Minister Datuk Seri Musa Aman said more than RM4 billion had been invested by the private sector under the Sabah Development Corridor (SDC) thus far.

"In addition, another RM20 billion is in the planning stage," he said when chairing the fourth meeting of the Sabah Economic Development and Investment Authority (Sedia).

He was pleased to note that projects such as the Palm Oil Industrial Cluster (POIC) in Sandakan and Integrated Livestock Centre in Keningau under the SDC have been recognised and highlighted in the National Budget 2010.

Through the SDC, he said the Sandakan POIC would spur the development of the Bio-Triangle strategic development area which includes the Sandakan Education Hub and the Agropolitan project for Tongod and Beluran.

As for the Keningau Integrated Livestock Centre, he said it would stimulate the development of the Interior Food Valley that covers the Kemabong Agropolitan and Nabawan livestock industry development.

He said strategies stated in the National Budget 2010 had outlined the steps to stimulate the National Economy towards generating higher income, adopting holistic and sustainable development as well as improving the living standard and income of the people.

On top of that, both the national and State budgets have emphasised the role of the private sector in economic development particularly in terms of investment and capital mobilisation.

"This in line with the national and State objectives especially now as we prepare to implement the second phase of the SDC, " he said.

Musa commended the success of the Borneo International Trade Fair 2009 (BITF2009) that was held recently and organised by the Sabah Bumiputera Chamber of Commerce in collaboration with the Sabah United Chinese Chamber of Commerce (SUCCC) and Kadazandusun Chamber of Commerce and Industry (KCCI).

He said it has highlighted that investors and the business community in general are upbeat on Sabah investment environment with the launching of the SDC.

The trade fair, he said had for the first time showcased projects under the SDC in the SDC pavilion that had attracted close to 60,000 visitors.

"This in indeed very encouraging even though the world at this time is still facing economic challenges brought about by the threat of the H1N1 and others," he said.

Nevertheless, he welcome all efforts especially in the development of new sources of growth, in particular green industry, creative industry and industry based on niche areas such as the health tourism, ICT and Halal industry.

In addition, he expressed full support to government initiatives to implement the incubator programme to train youth and graduates to become agropreneurs.

He said the programme would be implemented in collaboration with various agencies including in the Corridor Development Region "This initiative is in line with government efforts to develop high value agriculture industry including the halal industry, agro-biotechnology and Specialty Natural Product in the Sabah Agro-Industrial Precinct as well as the SME Agro-Food Zone in the Brunei Bay Development area under the SDC initiatives," he said.

The area, he said, certainly has the capability to attract investments from Brunei, Sarawak as well as from the Federal Territory of Labuan.

In line with the National Budget 2010, he said the State Budget 2010 is also taking into accounts the strategic thrusts as outlined under the national budget.

"In our pursuit to ensure Sabah achieves a developed status by 2015, the state has emphasised on meeting key prerequisites that include the development of highly skilled and competent human resource with science and technology know how and high integrity," he said.

Musa, who is also State Finance Minister, said in view of this recognition, the State Government has been helping to finance the development of the Sabah Educational Hub in Sandakan.

He said it is the Government's hope to see more Sabahans get access to quality education and technical training, which is very much needed in the new economic model.

During the meeting, representatives from Petronas updated the participants on the development of the oil and gas industry in Sabah including the development of the gas-fired power generation as well as the Sabah Oil and Gas Terminal (SOGT) project.

The meeting participants were Secretary-General of the Federal Treasury, Datuk Seri Dr Wan Abdullah Aziz Wan Abdulah, Director General of Public and Private Partnership Unit, Datuk Dr Ali Hamzah, State Secretary Datuk Sukarti Wakiman, Permanent Secretary to Finance Ministry, Datuk Yusof Kassim, State Economic Planning Unit (EPU) Director Datuk Ismail Abdullah and Sedia Chief Executive Officer, Datuk Dr Mohd Yaakub Johari.

Daily Express