KOTA KINABALU: Chief Minister Datuk Seri Musa Aman has called on members of the Sabah Economic Development and Investment Authority SEDIA to ensure that all development plans under the Sabah

Development Corridor SDC are implemented.“I would like to take this opportunity to call upon members of the committee to assist in ensuring that all planned investment and development projects under the SDC be effectively implemented in line with the role of SEDIA as a one-stop authority.“The State Government may also consider having SEDIA to function not only as the one-stop authority for SDC, but also as the central agency for investment promotion and fast-tracking approvals in Sabah,” he added when speaking at the eighth SEDIA meeting here yesterday.

The state Finance Minister also reminded those present to take stock of their achievements this year, and review what they were unable to accomplish, and how to overcome such challenges in the coming year.According to Musa, under the Second Rolling Plan of the 10th Malaysia Plan, in 2012-2013, SEDIA will continue to implement outstanding SDC projects and will carry out new projects, including entry point projects under the ETP.SEDIA’s programmes under the Second Rolling Plan will be guided by the SEDIA Corporate Plan 2012-2013 and during this period, the authority will accord greater emphasis on measures to realise planned investment and promote investment in industries with the potential to generate higher value-add to Sabah’s economy.

These included the setting up investment liaison offices/satellite Offices in designated locations/clusters to provide business support services, customise investment incentives and develop non-fiscal packages to attract investments and develop a research and development network, clearing house and database to exchange and share information and fast-track access to expertise.“We will also provide support services for Public-Private Partnership programmes, develop SMEs, agro-entrepreneurs and start-ups through business-links to provide business support services, and incubator programmes to support start-ups, facilitate foreign investors to partner or enter into joint ventures with GLCs and SDC implementing agencies as well as monitor, review and co-ordinate the implementation of projects under the SDC and the Greater Kota Kinabalu Economic Transformation Programme,” he said.

To complement the National Budget, Musa disclosed that the State Government had approved an expenditure of RM4,048.28 million in the 2012 State Budget in order to accelerate development and enhance the well-being of the people.This is the biggest expenditure ever in the State’s financial history, and one of its objectives is to stimulate economic growth by improving basic infrastructure and public utilities for the benefit of the people and investors, he pointed out.“I am pleased to announce that the total cumulative investment committed under the private sector-led Sabah Development Corridor SDC projects as at 30th November 2011 has reached RM63.16 billion while realized investment amounts to RM16.05 billion.“These figures do not include new SDC entry point projects identified following the Regional Cities and Corridors Lab, which I believe will be announced during its open day scheduled for early next year.“I am also pleased to announce that out of the total allocation of RM1.27 billion for SDC projects during the Ninth Malaysia Plan, a sum of RM1.01 billion has been channeled to SEDIA as at November 30 this year,” he said.According to Musa, a total of RM958 million or 94.02 per cent of the total allocation disbursed to SEDIA has been spent as at December 5 as payment for work and services rendered for SDC projects listed under the Ninth Malaysia Plan 9MP but carried over into the 10MP.“The balance of the outstanding allocation is expected to be channeled to SEDIA in 2012. During the Second Rolling Plan commencing next year, I was informed that SDC will be given an allocation of RM416 million; comprising RM206 million for 2012, and RM210 million for 2013,” he said.

via BorneoPost Online