Federal Govt Pledges Continued Development Support For Labuan

LABUAN, Sept 29 (Bernama) -- The federal government has pledged to maintain its development focus on Labuan, ensuring the island receives continued investment in infrastructure and economic growth as part of its role as an international business and financial centre.

Second Finance Minister Datuk Seri Amir Hamzah Azizan said Labuan’s rise as an international financial hub is the result of sustained government focus and support over decades.

“Labuan’s progress did not happen by chance. It is the outcome of continuous attention, policies and investments by the government,” he told reporters after officiating the 35th anniversary of Labuan International Business and Financial Centre (Labuan IBFC) at Labuan International School today.

Under the 12th and 13th Malaysia Plans, development funds continue to be allocated to states and territories in need, with Labuan benefiting from projects addressing long-standing infrastructure gaps.

Key initiatives include a major pipe replacement to resolve the island’s persistent water supply issues and stabilising electricity supply through a new independent power producer (IPP) project led by Petronas in partnership with Sabah Electricity Sdn Bhd and aligned with the Sabah Maju Jaya development plan.

Amir Hamzah also highlighted Labuan’s strategic industries, notably oil and gas and shipbuilding, which contribute significantly to the national economy.

“Efforts are underway to attract further investments to diversify and strengthen Labuan’s economic base,” he said.

He added that the government’s development approach aims to ensure balanced growth nationwide, ensuring emerging states and territories like Labuan are not left behind.

-- BERNAMA