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Taiwan Chamber of Commerce meets SEDIA to discuss Sabah’s investment potential

Oleh Sitti Nor Azizah Talata

SEDIA Chief Executive Datuk Dr. Mohd Yaakub Johari (fifth from left) receiving a memento from Taiwan Hakka Chamber of Commerce President Yeh Chun-Hui. SNT Pix/Credit SEDIA

KOTA KINABALU: Taiwan Chamber of Commerce (TCC) is ready to invest in Sabah with the help of Sabah Economic Development and Investment Authority (SEDIA).

TCC President Yeh Chun-Hui said the visiting delegation sought to have a discussion on business and investment opportunities available in Sabah.

Yeh added that the delegation’s businesses began as far back as three decades earlier and concentrated heavily in China, and that they are now seeking to expand the second generation of these business efforts.

They remarked that with more than five million Hakka people in Taiwan, in addition to the Hakka in China, they recognised Sabah as an enticing prospect for investment, given the sizeable local Hakka community.

“Taiwan is advanced in the agriculture, manufacturing, and health sectors, as well as in the elderly wellness industry.

“Now our members of the delegation were keen to invest in Sabah’s agriculture and tourism sector,” he said after meeting SEDIA Chief Executive Datuk Dr. Mohd Yaakub Johari at Wisma SEDIA here yesterday.

The delegation was brought to Wisma SEDIA by their friendship chapter Sabah Hakka Chamber of Commerce.

Meanwhile, Dr. Yaakub introduced the delegation to the regional approach for investment incentives as offered under the Sabah Development Coridor (SDC), which differ from the sectoral tax incentives generally offered throughout Malaysia.

He said under SDC, investors are eligible for 100 percent tax exemption for a period up to ten years, available for specific regions or clusters as specified under SDC Strategic Development Areas (SDAs).

They were also made aware of SDAs such as the Palm Oil Industrial Clusters for palm oil activities, as well as Kinabalu Gold Coast Enclave for tourism.

The Sabah Development Corridor was launched on January 29, 2008 during the Ninth Malaysia Plan as one of Malaysia’s five regional economic corridors, with the aim to accelerate the growth of Sabah’s economy, promote regional balance and bridge the urban-rural divide, while ensuring sustainable management of state resources.

This was followed by the establishment of SEDIA, through the adoption of Sabah Economic Development and Investment Authority Enactment 2009 on January 15, 2009.

The Enactment was assented by the Yang Dipertua Negeri Sabah on February 23, 2009, and gazetted on February 26, 2009.

Through the enactment, SEDIA is vested with the necessary power to serve as a decision-making and execution institution that is tasked with realising the SDC vision and mission, by being the One-Stop authority to plan, coordinate, promote and accelerate the development of SDC. – SabahNewsToday