KOTA KINABALU: The second phase of the Sabah Development Corridor (SDC), between 2011 and 2015, will see accelerated economic growth with greater private investment and first class human capital development, said Sabah Economic Development and Investment Authority (Sedia) chief executive officer Datuk Dr Yaakub Johari.
“In this timeline, we anticipate tourism to surpass a 10 per cent share of gross domestic product (GDP), the creation of critical small-and-medium enterprises (SMEs) serving downstream manufacturing companies, and to have agri-businesses that participate in high value agriculture,” he said here yesterday.
He said the SDC managed to secure a record RM30.6 billion in investments during the first phase (2008-2010), whereby RM11.95 billion was realised, surpassing the target of RM11.3 billion.
“New business and investment opportunities have also been generated arising from the implementation of the various SDC projects.
“The resulting vibrant investment climate has further boosted investor confidence and encouraged substantial investments into Sabah.
“Sabah has been receiving enquiries and visitors from foreign investors and embassy officials regarding investment opportunities in SDC.
“Sedia is now in the midst of negotiating with potential investors from Brunei, Middle Eastern countries, the United States, the United Kingdom, Australia, China, India, South Korea and Japan,” Dr Yaakub added.
He said the implementation of SDC projects, as well as, new investment opportunities have created new business and employment opportunities for professionals, skilled, semi skilled and unskilled construction workers.
“In terms of job opportunities and employment creation, about 32,900 new jobs were created in 2008 following the launch of SDC and more than 40,000 new jobs in 2009,” he said.
Dr Yaakub said the third phase (2016-2025) of the SDC would see Sabah emerging as one of the leading economic regions, particularly, in resource-based industries.
“With this in mind, we envision Kota Kinabalu to become one of the most liveable cities in Asia, an emerging metropolis which draws talent, capital and companies.
“The SDC is not only about economic prosperity…we aspire to have people living together in harmony regardless of race, language or religion,” he added. (Bernama)