LABUAN: Unfavourable decisions over the years have been blamed for the island’s once vibrant local economy shifting into low gear, according to Labuan Indian Chamber of Commerce and Industry.
Citing examples of these decisions, Chamber Chairman Datuk Dahlif Singh said in the 1960s barter trade with the Southern Philippines was lucrative and a pillar of the local economy.
However, the government shifted focus to the island’s new financial centre status in 1990 and no support was given to the trade. Instead, it was suffocated with various rules causing it to whittle away.
