28/06/2011 (Borneo Post) - Sabah’s bid to accelerate its economic expansion by rolling out a number of major projects across the sectors is mapped out in a report just published by Oxford Business Group (OBG).

Marking OBG’s first report on the Malaysian state, ‘The Report: Sabah 2011’ provides in-depth coverage of the Sabah Development Corridor (SDC) blueprint and considers the interest that the long-term development plan is generating among global investors.

The publication charts the wave of new projects, which spans agricultural infrastructure, transport, tourism and logistics, while analysing the role they
are set to play in Sabah’s plans to become a leading economic and investment hub by 2025.

‘The Report: Sabah 2011’ was launched yesterday in the presence of the Chief Minister of Sabah, Datuk Seri Musa Aman.

The event was attended by around 200 high-profile representatives from the State’s political and business spheres.

OBG’s publication provides key coverage of Sabah’s decision to embark on new oil and gas developments as part of a bid to counter decreasing hydrocarbons reserves.

The report also explores the state’s plans to increase the focus on renewable energy sources, including solar, wind, biomass and palm oil, in line with its aims to reduce emissions.

With palm oil earmarked as a National Key Economic Area, the Group’s business guide includes detailed analysis of the steps being taken to boost the contribution Sabah makes to the industry.

The publication weighs up the federal government’s two-pronged approach of channelling funding into palm oil while also offering incentives to investors as it looks to increase productivity and develop new areas of business.

OBG’s new report places Sabah’s financial services sector in the spotlight, providing coverage of the strategies banks are adopting as part of their bid to boost deposits. It also explores the increasing popularity of Shari’a-compliant services and the potential for expansion in this segment.

With figures projecting growth at the container throughput over the next decade, ‘The Report: Sabah 2011’ charts the State’s efforts to boost its logistics industry and expand activity at its ports. It considers the prospects for expansion at Kota Kinabalu International Airport which stands to benefit from Malaysia Airlines’ decision to designate it the national carrier’s Eastern Hub.

‘The Report: Sabah 2011’ has been produced in partnership with the Sabah Economic Development and Investment Authority. Contributions have also been made by Maybank as OBG’s capital markets partner, Jayasuriya Kah and Co as its legal partner and McMillian Woods for accountancy analysis.

It includes a detailed, sector-by-sector guide for investors, alongside wide-ranging interviews with leading political, economic and business leaders, including the Chief Minister of Sabah and the Prime Minister of Malaysia Datuk Seri Najib Tun Razak.

OBG’s regional editor Paulius Kuncinas said that Sabah’s central regional position in tourism, energy and commodity-related sectors meant it was well placed to attract businesses seeking out a location for their operations and investors looking to benefit from the South East Asian growth.

“One of Sabah’s inherent advantages is its proximity to a populous neighbourhood that finds itself somewhat removed from central administrative centres,” he said.

“Greater cooperation with Indonesia, Brunei and the Philippines will be key in converting regional potential into economic expansion.”

Regional director Laura Herrero added that Sabah’s drive to develop emerging sectors such as manufacturing and tourism alongside the State’s traditional agriculture and timber industries would provide strong foundations for its economic expansion.

She also paid tribute to OBG’s partners, highlighting the valuable input they had given to the Group’s first report on Sabah’s economy.

“Our partners here have a comprehensive understanding of Sabah’s ongoing efforts to attract investors and carve out a greater role for the private sector as it looks to achieve more sustainable growth,” she said.

“I am delighted that they chose to share their expertise with our editorial and research team and play a part in producing a landmark report which accurately relays Sabah’s exciting economic evolution.”