MARKET DEVELOPMENT
POIC Lahad Datu Generates RM2.21 Billion In Investments
POIC Lahad Datu Generates RM2.21 Billion In Investments
15/04/2014 (Bernama) - The Palm Oil Industrial Cluster (POIC) in Lahad Datu has generated total nvestments of about RM2.21 billion to date.
Sabah Deputy Chief Minister Datuk Raymond Tan Shu Kiah said 42 companies had invested in the industrial area under the first two phases, covering 196.22 hectares (ha), in various industries especially biodiesel, palm oil refinery, oleochemicals, bio-pellet, biomass-based power generation, logistics and fertiliser manufacturing up to March this year.
"The land lots offered to investors under POIC Lahad Datu phase one and two have all been sold. Hence, POIC is now focusing on phase three," he said in reply to a question from Dr Hiew King Cheu (Bebas-Luyang) at the Sabah state legislative assembly here today.
Tan, who is also Minister of Industrial Development, said infrastructure facilities such as roads, drainage, sewerage, telecommunications, power and water supply, liquid cargo jetty, bulk cargo jetty and container port has made POIC a complete and attractive industrial location for investors.
Meanwhile, referring to the progress of Kota Kinabalu Industrial Park (KKIP), he said 354.71ha (51 per cent) of the allocated 700.94ha land had been developed for industrial use.
He said the developed area accommodated 261 factories and entities, created 7,049 job opportunities and generated RM2.52 billion in investments.
"A total of 217.76ha (31 per cent) are in the various stages of development such as preparing building plans and completing building and infrastructure works. The balance of 128.47ha (18 per cent) have not been developed," he said.
On the issue of giving land for free to investors, Tan said this issue did not arise as the investors never asked for free land in POIC and KKIP.
Regarding tax exemption, he said the government had offered various investment incentives to encourage the inflow of investments into the country, for instance, many investors in POIC or KKIP received tax-exempt status offered by the Malaysian Investment Development Authority (MIDA) encompassing a wide range of industries.
On the issue of reducing red tape, Tan said all federal and state government agencies acted as development catalyst or industrial facilitator and they served as a team to assist investors in their business undertakings.
"Until now, we have facilitated our investors' dealings and we are ready to accept their constructive criticism, if their friends come to Sabah," he said.
Sabah Deputy Chief Minister Datuk Raymond Tan Shu Kiah said 42 companies had invested in the industrial area under the first two phases, covering 196.22 hectares (ha), in various industries especially biodiesel, palm oil refinery, oleochemicals, bio-pellet, biomass-based power generation, logistics and fertiliser manufacturing up to March this year.
"The land lots offered to investors under POIC Lahad Datu phase one and two have all been sold. Hence, POIC is now focusing on phase three," he said in reply to a question from Dr Hiew King Cheu (Bebas-Luyang) at the Sabah state legislative assembly here today.
Tan, who is also Minister of Industrial Development, said infrastructure facilities such as roads, drainage, sewerage, telecommunications, power and water supply, liquid cargo jetty, bulk cargo jetty and container port has made POIC a complete and attractive industrial location for investors.
Meanwhile, referring to the progress of Kota Kinabalu Industrial Park (KKIP), he said 354.71ha (51 per cent) of the allocated 700.94ha land had been developed for industrial use.
He said the developed area accommodated 261 factories and entities, created 7,049 job opportunities and generated RM2.52 billion in investments.
"A total of 217.76ha (31 per cent) are in the various stages of development such as preparing building plans and completing building and infrastructure works. The balance of 128.47ha (18 per cent) have not been developed," he said.
On the issue of giving land for free to investors, Tan said this issue did not arise as the investors never asked for free land in POIC and KKIP.
Regarding tax exemption, he said the government had offered various investment incentives to encourage the inflow of investments into the country, for instance, many investors in POIC or KKIP received tax-exempt status offered by the Malaysian Investment Development Authority (MIDA) encompassing a wide range of industries.
On the issue of reducing red tape, Tan said all federal and state government agencies acted as development catalyst or industrial facilitator and they served as a team to assist investors in their business undertakings.
"Until now, we have facilitated our investors' dealings and we are ready to accept their constructive criticism, if their friends come to Sabah," he said.