Sabah out to woo investors from China, says Leiking

KOTA KINABALU: Aggressive efforts are being made to lure foreign investors to Malaysia, especially Sabah and Sarawak, in a bid to boost the country’s economy, says International Trade and Industry Minister Darell Leiking.

“We are looking at bringing in a major investor in the chemicals and foam industry to Sabah,” he said after paying a courtesy call on Chief Minister Datuk Seri Mohd Shafie Apdal here yesterday.

The deal, if successful, would provide jobs to 700 Sabahans, said Leiking, the Penampang MP, who was part of Prime Minister Tun Dr Mahathir Mohamad’s delegation to China this week.

He said discussions were also being held with Chinese tycoon Jack Ma on efforts to bring Malaysians to China, specifically his company Alibaba Group, to learn e-commerce.

“This is the way forward; we want our people to learn the trade and follow this platform,” he said.

Leiking said he and Shafie also touched on potential business opportunities for Sabah.

Asked whether Sabah’s unstable electricity and water issues would affect investments and hinder potential investors from setting up base, Leiking said they would not.

“We brief our potential investors on the actual ground situation and let them know efforts are being made to tackle these issues,” he said.

He said the cancellation of the Trans-Sabah Gas Pipeline (TSGP) project involving Chinese investors should not affect economic ties between Malaysia and China.

“The Prime Minister has explained what’s happening in our country and our financial woes. From China’s response, they understand,” he said.

TSGP, proposed at a cost of RM4.06 bil, is a 662km gas line connecting the Kimanis Gas Terminal to Sandakan and Tawau.

Meanwhile, Leiking said Malaysia is all for free trade if it is done fairly, echoing the prime minister’s stand.

“We want free trade but it has to be fair to Malaysia. If the conditions set by the other party are too stringent and do not benefit us, what is the point?” he said.