SABAH has enough raw materials and land for any Malaysian firms interested in the state’s timber-based downstream industries, said Chief Minister Shafie Apdal.

Shafie said Sabah is now looking forward to building its timber-based industries to improve state revenue and create more job opportunities for Sabahans.

“The timber-based sector in peninsular Malaysia last year was valued at RM15.35 billion. Sabah, on the other hand, only made RM1.68 billion from log exports.

“Sabahan firms remain the state’s top priorities. However, consideration will be given to foreign companies if we cannot get any investors from peninsular Malaysia.

“We want as many Malaysian players as possible to join before we open up to foreigners,” he said.

Shafie said this in his speech in a special conference on investment opportunities in Sabah, organised by the Malaysian Timber Council in Kuala Lumpur today.

Sabah imposed a ban on log exports in May to ensure an ample supply of timber for the local industries.

“It is time for us to make new and right policies focused on downstream activities besides nature conservation, and on replanting Sabah’s lost forests,” he said.

Shafie said the state government is inviting Malaysian firms to invest in Sabah and build factories in the Kota Kinabalu industrial park on Sabah’s west coast, or at the Palm Oil Industrial Cluster in Lahad Datu, on Sabah’s east coast.

He said more incentives will be given to firms, such as new train tracks to transfer goods. – November 26, 2018.