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 Business

MIDA, Sabah will continue to ensure good business

8th December, 2017

By JASON JACK EBIT

KOTA KINABALU: Malaysian Investment Development Authority (MIDA) will continue to work together with the Sabah state government and other government agencies to ensure conducive business environments for investors.

MIDA’s executive director for strategic planning (manufacturing), Zabidi Mahbar said that MIDA seeks to attract quality investment that would have many spillover effects towards generating income for Sabah and the nation’s economy.

”As at December 2016, a total of 757 manufacturing projects with investment worth RM19.7 billion have been implemented in the state and more than 91,000 Sabahans have benefitted from these projects through means of employment,” he said.

He said this at the MIDA East Malaysia Domestic Investment Seminar, at the Pacific Sutera Harbour, yesterday. More than 200 industry players attended the one-day programme – part of MIDA’s continuous efforts to update the industry players – especially in East Malaysia on the latest policies and facilities available.

The seminar featured two plenary sessions as well as business clinic sessions, featuring representatives from various agencies at both federal and state level.

He also added that this year alone, Sabah attracted additional investment worth more than RM400 million in the service sectors which include hotel and tourism, energy generation, conservation projects as well as the manufacturing sector.

“Knowing that a comprehensive ecosystem is a natural magnet for investment, the government also continues to undertake concerted efforts to support investors in doing their business in this country.

“We are optimistic that latest infrastructure project here in Sabah which is the Pan Borneo Highway project, will be the driving force to attract more quality investment into East Malaysia.

“This includes in sectors such as petroleum products, chemical products, oil and gas, building materials, food manufacturing, furniture, tourism and agriculture,” he said.

Meanwhile, Zabidi also said that the government is now aggressively undertaking various efforts to assist industry players in embracing Industry 4.0 through the adoption of automation and smart manufacturing.

“As the champion for Industry 4.0 and manufacturing, MITI and MIDA are heavily involved in formulating strategies and conducting related research, including the “Future of Manufacturing” study on the 3+2 catalytic and high growth potential sectors identified under the 11th Malaysian Plan and the Industry 4.0 National Plan,” adding that both documents are expected to be completed by the first quarter of 2018.

Zabidi explained that, since 2015, the government has provided a facility in the form of Automation Capital Allowance for automation expenditure to assist manufacturing companies in embracing the new concept.

“As at October 2017, MIDA has approved a total of 71 applications of which two applications approved were from Sabah.

“Meanwhile in the recent Budget 2018 Budget, the government also announced several new incentive packages in this space, underscoring our commitment to accelerating the growth, and adoption of smart manufacturing and Industry 4.0 in Malaysia.

“With these facilities in place, we would like to encourage more companies to adopt smart manufacturing technologies and processes that will in return serve them well by reducing dependency on foreign labor, improve productivity and enhance their long-term competitiveness,” he said.

   
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