THE Gabungan Rakyat Sabah (GRS) State Government would push its development agenda to bring progress to Sabah and its people.
Chief Minister Datuk Seri Hajiji Haji Noor reassured this when launching the RM400 million high-yield coconut plantation and coconut-based manufacturing facility project developed by Linaco Resources Sdn Bhd in Paitan, Beluran, on March 19.
The State Government will hold 30 per cent stake in this venture which is another Sabah Maju Jaya (SMJ) investment initiative, he said, adding the State Government is providing 2,000 hectares for the high-impact project which is expected to contribute some RM1.2 billion annually to Sabah’s economy.
Linaco would set up all the necessary infrastructure for the project which is expected to provide 4,400 jobs when fully operational in 2026.
Happy that the Memorandum of Understanding (MoU) inked between the State Government and Linaco Resources Sdn Bhd to develop Sabah’s coconut-based industry in March last year is finally becoming a reality, Hajiji said Linaco Resources is investing RM200 million for the development of a high-yield coconut plantation and another RM200 million for the coconut-based manufacturing facility.
“This RM400 million project will definitely create a big impact. With an expected RM1.5 billion annual income, surely the economic spillovers will transform Paitan and create employment opportunities to Paitan and nearby communities,” he said.
The State Government has also allocated a total of RM561.81 million to the agriculture sector, which is one of the three main thrusts of SMJ, in this year’s State Budget.
March 29, 2022 will mark the first anniversary of the Hala Tuju SMJ, Sabah’s development plan, and despite the many challenges posed among others by the Covid-19 pandemic, the GRS State Government remained steadfast to pursue investments and managed to bring in three major investments, including Linaco to Sabah.
The other two major investments under the SMJ initiatives are the SK Nexilis copper foil factory and Kibing Group solar glass manufacturing plant at the Kota Kinabalu Industrial Park (KKIP), which are progressing very well.
“I am really satisfied and happy with the latest development as well as progress of these projects. It is testament that our hard work for the past one year is beginning to bear fruit,” he said.
“We have worked hard to attract investors to Sabah and the GRS Government has had several important achievements under its belt,” said Hajiji, who is also the State Finance Minister.
He said the Sabah International Business and Economic (SIBES) 2022 summit in January this year had sparked interest not only among locals but also foreign investors on Sabah’s investment potential.
Following the SIBES summit, 14 diplomats also met with Hajiji to express investment interest in Sabah.
“There is still so much more that we need to do to pursue economic recovery. I am confident that we will succeed in bringing prosperity to Sabah and the people if we remain united under one development agenda,” he said.
Deputy Chief Minister and Agriculture and Fishery Minister Datuk Seri Dr Jeffrey Kitingan Agriculture, Agriculture and Food Industries Minister Datuk Seri Dr Ronald Kiandee, State Secretary Datuk Seri Safar Untong and Linaco Executive Director Joe Ling were present.
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