Kota Kinabalu: Malaysia’s intention to become a regional hub for shipbuilding and repair has sweetened related investment opportunities in Sabah, especially in its east coast.
“This ties up nicely with our intention to use Sabah’s east coast, centred around the POIC Lahad Datu industrial park, to be the regional logistics hub for the BIMP-EAGA region, developing maritime connectivity between the EAGA territories to promote investment and trade,” said Datuk Fredian Gan, the Chief Executive Officer of state-owned POIC Sabah Sdn Bhd, the developer of POIC Lahad Datu.
In the Budget 2023 announced by Prime Minister cum Finance Minister Datuk Seri Anwar Ibrahim last Friday, he (Anwar) announced that under the initiative companies investing in shipbuilding and repairs will be entitled to, among others benefits, five-year tax incentive.
