By Olivia Miwil - March 5, 2021 @ 4:37pm
KOTA KINABALU: The Sabah government wants all hurdles hampering investments to be removed to facilitate investments into Sabah.
"Red tape faced by well-meaning investors will only hurt our efforts to draw investors to Sabah.
"Hence, we must remove them to facilitate investments," Chief Minister Datuk Seri Hajiji Noor said in a statement.
He chaired the first board meeting of Invest Sabah Bhd (ISB) here this morning.
ISB, which was established in December under the purview of the Sabah Industrial Development Ministry, has an objective of promoting both local and foreign investments.
It is a one-stop agency for investments into the state, providing investors with information on investment requirements including licensing approvals and building networking platforms, among others.
"ISB will act as the secretariat for an investment committee comprising state and federal agencies as well as relevant stakeholders to vet all investment proposals.
"ISB's success will a boon to the state's economic progress in achieving one of the main thrusts of the Halatuju Sabah Maju Jaya (SMJ), which is the Gabungan Rakyat Sabah government's five-year development plan."
The SMJ focuses on three main thrusts, namely agriculture, tourism and industrial sectors; human capital and people's well-being, as well as infrastructure network and green sustainability.
The meeting endorsed the appointment of Datuk Dr Joachim Gunsalam, who is Deputy Chief Minister and Sabah Industrial Development Minister as ISB deputy chairman.
Among its board members are Datuk Seri Sr Safar Untong, (who is also state secretary), Datuk Nor Asiah Mohd Yusof (State Attorney-General), Rusdin Riman (Finance Ministry's permanent secretary) and Thomas Logijin (Industrial development Ministry's permanent secretary).
Datuk Madiyem Layapan was also officially endorsed as ISB's chief executive officer.
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