By Chris Maskilone
KOTA KINABALU: The Asean Chamber of Commerce (ACC) Sabah Chapter was only officially launched last night but has already succeeded in attracting potential investments of nearly RM3 billion to the state.
“Our role is merely to attract and facilitate foreign and domestic investors,” said newly-elected chapter president Nordin Ening.
Met after the launching ceremony officiated by Minister of International Trade and Industry Datuk Darell Leiking at Hyatt Regency Kinabalu here last night, Nordin said being a board member of the Malaysian Investment Development Authority (Mida) was also a boon in terms of getting incentives for the investors.
During the launching ceremony, two Korean companies gave a briefing on the proposed Sipitang Smart Leisure City and Abalone farm in Lahad Datu.
For the proposed Sipitang Smart Leisure City, the investor planned to build developments costing a total of RM2.8 billion that will give the slumbering town a much-needed facelift.
“We were made to understand from Mida that the Sipitang District Council is currently applying for the land for the development and once okayed the works may start as early as May this year,” he said.
The Abalone farm planned to be set up in Lahad Datu that will cost a total RM100 million in two phases is expected to provide a steady supply of the premium seafood to the Korean market as well as its surroundings generating an estimated RM300 million annual revenue.
These investments are expected to fetch an estimated 800 employment opportunities, especially for locals.
Nordin also disclosed that an investor from Semenanjung was eyeing to capture the pesticide market in Borneo by setting up a factory in KKIP.
“ACC has conducted a study and found out that Sabah has about 30 fertiliser factories but no pesticide factory despite agriculture being one of the state’s main economic movers,” he said.
The market is huge as no such factory exists in Sabah, Sarawak, Brunei, Mindanao nor Kalimantan and they have to import pesticides from outside sources.
Presently the agriculture sector in Sabah was importing pesticides from Peninsular Malaysia.
In this respect, Nordin assured that together with Deputy President Datuk Freddie Sua and other office bearers of ACC Sabah Chapter, they would strive to assist in the state’s economic development by getting more investors to come.
Meanwhile, ACC Malaysia President Datuk Moehamad Izat Emir expressed excitement with the setting up of the chamber’s chapter in Sabah.
He said that after seeing the efforts being put into during the past two days he was here, Moehamad has no doubt that Nordin is the right man to lead ACC Sabah Chapter.
According to him, with so many resources at its disposal, Sabah has so much potential to grow.-SabahNewsToday