LABUAN: Member of Parliament Datuk Suhaili Abdul Rahman said all eyes will be on the “new team” in Labuan Corporation (LC), since July especially on reviving the local economy by luring more investors and entering a business-friendly environment.
Suhaili, who lobbied for the island’s second methanol plant in 2015, said the situation in Labuan is worrying as there has been no investment despite being a free-port since the methanol decision 15 years ago.
“As a result there has been an exodus of job-seeking youths as oil and gas activities have been contracting, tourism declining and no spill-over effect from the financial centre status. The retail business has been suffering,” he said.