MARKET DEVELOPMENT
Improved Security Draws Investors To POIC Lahad Datu, Says Chairman
Improved Security Draws Investors To POIC Lahad Datu, Says Chairman
14/04/2016 (Bernama) - The government's commitment to increasing security surveillance in the eastern region of the state has given investors the confidence to invest in the Palm Oil Industrial Cluster (POIC) in Lahad Datu, said its Chairman Datuk Nasrun Datu Mansur.
Nasrun, who is also Lahad Datu Member of Parliament, said POIC Lahad Datu has to date attracted investments worth RM4 billion from 40 investors in the country and abroad.
Since the POIC was launched in 2005, he said, it has been successful in attracting investment and generating income for the state.
POIC was developed by POIC Sabah Sdn Bhd, a wholly-owned entity of the state government, under the government's Economic Transformation Programme (ETP).
He said negative perceptions about security in this area have not affected investors' confidence, adding foreign investors, unlike their domestic counterparts, are confident in the district's security situation.
"It is only perception, and investors are aware that their investment would be guaranteed amid the government's commitment to improving security," he told reporters after the launch of POIC Emergency Mutual Aid (PEMA).
He said investments would increase in a year with investors showing interest in setting up production facilities in the cluster.
The setting up of the Eastern Sabah Security Command (ESSCom), Nasrun said, was among the government's measures to improve security and enhance investors' confidence.
A RM600 million allocation to upgrade ESSCom's equipment and facilities as well as a RM532 million allocation for the upgrade of ESSCom's army camp in Felda Sahabat, he said, has also boosted security.
The Lahad Datu airport will also be upgraded into a helicopter base, with the groundbreaking expected in May, he added.
Nasrun, who is also Lahad Datu Member of Parliament, said POIC Lahad Datu has to date attracted investments worth RM4 billion from 40 investors in the country and abroad.
Since the POIC was launched in 2005, he said, it has been successful in attracting investment and generating income for the state.
POIC was developed by POIC Sabah Sdn Bhd, a wholly-owned entity of the state government, under the government's Economic Transformation Programme (ETP).
He said negative perceptions about security in this area have not affected investors' confidence, adding foreign investors, unlike their domestic counterparts, are confident in the district's security situation.
"It is only perception, and investors are aware that their investment would be guaranteed amid the government's commitment to improving security," he told reporters after the launch of POIC Emergency Mutual Aid (PEMA).
He said investments would increase in a year with investors showing interest in setting up production facilities in the cluster.
The setting up of the Eastern Sabah Security Command (ESSCom), Nasrun said, was among the government's measures to improve security and enhance investors' confidence.
A RM600 million allocation to upgrade ESSCom's equipment and facilities as well as a RM532 million allocation for the upgrade of ESSCom's army camp in Felda Sahabat, he said, has also boosted security.
The Lahad Datu airport will also be upgraded into a helicopter base, with the groundbreaking expected in May, he added.