Labuan Attracts Interest From 32 Investors Across Key Sectors, Says Dr Zaliha
By Jailani Hasan
LABUAN, Dec 19 (Bernama) -- Minister in the Prime Minister’s Department Dr Zaliha Mustafa said that at least 32 investors, foreign and local from diverse industrial sectors have expressed keen interest in investing in this duty-free island.
"The investors hail from China, Korea, and Malaysia," she shared in an exclusive interview with Bernama, marking her first year as Minister overseeing federal territories.
Dr Zaliha said her recent visit to China aimed to explore business opportunities for Labuan.
“As of today, at least 32 companies from China, Korea, and Malaysia have shown interest in investing here,” she said.
While the Federal Territories Department oversees the development of Labuan, Putrajaya, and Kuala Lumpur, Dr Zaliha pointed out that it lacks a dedicated investment arm and instead relies on InvestKL to facilitate investment discussions.
“We are collaborating closely with the Ministry of Investment, Trade, and Industry, which has assured their support. Future investments in Labuan will be linked through InvestKL for seamless handling,” Dr. Zaliha said.
Addressing critical infrastructure needs, Dr Zaliha emphasised the importance of reliable water and power supply to build investor confidence.
“Ensuring a stable supply of these essential services is crucial. We also support proposals to expand the manufacturing sector in Labuan, as it will boost economic activity, increase exports, and create jobs for locals,” she added.
Dr Zaliha noted the need to diversify beyond the traditional oil and gas and financial sectors, which have long been the pillars of Labuan’s economy.
“The over-reliance on these sectors is a common concern among Labuan’s residents. We are open to exploring sustainable industries that can create employment and stimulate local businesses,” she added.
--BERNAMA