KOTA KINABALU: The State government will be presented with a final proposal to develop Sabah\u2019s first Free Zone (FZ) for the East Coast to attract foreign investors, expedite economic growth and strengthen the state\u2019s regional influence.
\nThis was revealed at a dialogue between the Malaysia-China Business Council (MCBC) and state-owned POIC Sabah Sdn Bhd here today (May 10).
\n(A FZ is a special economic zone where goods may be imported, stored, handled, processed, and repacked reconfigured and re- exported under special customs regulation and generally not subject to customs duty. Penang and Johore are among states with FTZs.)
\nPOIC Sabah is the developer of the POIC Lahad Datu industrial park and port (used to be known as Lahad Datu Palm Oil Industrial Cluster) which is being seen as a key driver to making Sabah\u2019s east coast a new economic growth area.
\nMCBC Chairman Datuk Seri Tiong King Seng, who is also the Malaysian Prime Minister\u2019s Special Envoy to China, and a delegation from MCBC were on a return visit to Sabah when they met up with POIC Sabah management team headed by its Chairman Datuk Seri Panglima Yong Teck Lee and Chief Executive Officer Datuk Fredian Gan. Permanent Secretary of the Ministry of Industrial Development and Director of the MATRADE and MIDA Sabah were also present.
\nTiong last met with POIC Sabah officials in March 2021 where he, among other things, proposed that POIC also must look seriously into the setting up of a Free Industrial Zone in Lahad Datu industrial park to boost up investment, and pledged MCBC\u2019s help in promotion and facilitation with China investors.
\nBriefing the MCBC through the industry of Industrial Development on what has taken place since, Datuk Fredian said POIC Sabah is tabling a final proposal to the State Cabinet for the State to apply for a FZ license from federal authorities. It envisages the development of more than 1,000 acres of coastal land not far from POIC\u2019s port facilities for the pioneer project.
\nThe FZ is in sync with POIC Sabah\u2019s plan to develop Sabah\u2019s east coast into a logistics hub of BIMP-EAGA by leveraging on POIC Lahad\u2019s strategic position within the BIMP-EAGA region, modern port facilities, access to abundant natural resources from neighboring countries and location along the Lombok-Makassar shipping route.
\nDatuk Fredian Gan said POIC Sabah appreciated Tiong\u2019s prompting and sharing of his experience in the implementation of the other Klang Free Zone projects as well as what he learnt from dealing with key person behind Dubai\u2019s massive Free Trade Zone project.
\nHis appreciation extended to the assurance given to help raise the issue in getting approval from the Federal government for the establishment of FZ in POIC Lahad Datu.
\nHe also took the opportunity to express gratitude to Dato’ Sri Tiong for bridging a collaboration between POIC Sabah and China Construction Bank (CCB) that culminated to the signing of a Strategic Collaboration Agreement on 8 April 2022.
\nTiong hailed the idea of building an international airport, a maritime academy and a transportation hub in Lahad Datu, stressing that connectivity was vital to promoting trading and link-up to markets.<\/p>\n","protected":false},"excerpt":{"rendered":"
KOTA KINABALU: The State government will be presented with a final proposal to develop Sabah\u2019s first Free Zone (FZ) for the East Coast to attract foreign investors, expedite economic growth and strengthen the state\u2019s regional influence. This was revealed at a dialogue between the Malaysia-China Business Council (MCBC) and state-owned POIC Sabah Sdn Bhd here […]<\/p>\n","protected":false},"author":9,"featured_media":12238,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[28],"tags":[],"class_list":{"0":"post-12237","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-news"},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/posts\/12237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/comments?post=12237"}],"version-history":[{"count":1,"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/posts\/12237\/revisions"}],"predecessor-version":[{"id":12239,"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/posts\/12237\/revisions\/12239"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/media\/12238"}],"wp:attachment":[{"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/media?parent=12237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/categories?post=12237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/tags?post=12237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}