SEDIA collaborates with World Bank Group to establish investment promotion unit

 By Olivia Miwil - January 22, 2022 @ 7:04pm

-NSTP file pic, for illustration purpose only.

KOTA KINABALU: Sabah Economic Development and Investment Authority (SEDIA) is collaborating with the World Bank Group to establish its SEDIA Investment Promotion unit (SEDIA IP).

SEDIA chief investment officer Kevin Ukang said such a collaboration which has been in place since last year was a good mechanism to attract foreign investment into Sabah.

The unit will actively promote and facilitate inward investment in Sabah, providing various support services to investors to assist in their business or investment expansion.

"Facilitating inward investment to Sabah through SEDIA IP is just one of SEDIA's focus, of which all its initiatives is to reinvigorate the state economy are aligned to the State Government's Sabah Maju Jaya development plan.

"In this regard, SEDIA is redefining the direction of its Sabah Development Corridor (SDC) programmes towards 2030 in response to the pandemic, while also aligning with the latest Federal and State Government's policies and initiatives.

"The newly completed SDC Blueprint 2.0 will chart Sabah's development over 10 years from 2021 until 2030," said the statement.

Kevin explained this following a recent visit by the New Zealand Embassy in Malaysia to the SEDIA office here.

The New Zealand delegation was led by the New Zealand High Commissioner to Malaysia and Brunei, Pam Dunn, and New Zealand Trade Commissioner to Malaysia and Brunei Catherine Rusby.

The duo was welcomed by SEDIA chief executive Datuk Seri Hashim Paijan along with deputy chief executive Dr Chong Vun Leong, Kevin, chief Human Capital Development officer Janet Lee, and chief Corporate Communication Officer Sheila Radin.

Dunn explained that the visit stemmed from their observation that Sabah is undergoing a major shift in its economic focus which they noted during the Sabah International Business and Economy Summit held earlier this week, as well as the state's plans for neighbouring Indonesia's upcoming Nusantara administrative capital;

"Hence they would like to get a sense of the state's priorities and plans in moving forward.

"More importantly, she is keen to know how it will enhance Sabah's trade and economic engagement with New Zealand."