LABUAN: Labuan Corporation (LC) has identified potential investors who are keen on investing in various sectors on the island.
Chief executive officer Dr Fary Akmal Osman as quoted in Bernama said new investments are essential to accelerate the island’s economic development in line with the Labuan Development Blueprint 2030 – in order to transform the island into a smart and sustainable island city.
Fary said the announcements on the upcoming investments will be made by Federal Territories Minister Khalid Abdul Samad soon.
The LC has also consulted with the Malaysian Investment Development Authority (MIDA) officials for guidance for Labuan’s economic and investment ecosystem and in identifying infrastructures needed for future developments.
Fary also said, LC is focusing to develop logistics, retail, trading and tourism to spur the island’s economy and hopes that MIDA will consider providing attractive incentives to lure new investments into Labuan.
Meanwhile, she said the LC has also been discussing with Petronas Methanol Labuan on the establishment of an education fund to assist local students to pursue their studies in international schools and higher learning institutions.