|SEDIA has been entrusted as the one stop authority to drive Sabah Development Corridor (SDC)|
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SABAH DEVELOPMENT CORRIDOR
The Sabah Development Corridor (SDC), was launched on 29 January 2008 to enhance the quality of life of the people by accelerating the growth of Sabah’s economy, promoting regional balance and bridging the rural-urban divide while ensuring sustainable management of the state’s resources. It is part of the five economic corridors inspired by the former Prime Minister YAB Dato’ Seri Abdullah Haji Ahmad Badawi. It is in line with the key thrusts and objectives of the Halatuju Pembangunan dan Kemajuan Negeri Sabah, launched in 2004 by YAB Datuk Seri Panglima Musa Aman, Chief Minister of Sabah, which outlines the direction of the state’s development.
The theme for the SDC is Harnessing Unity in Diversity for Wealth Creation and Social Well-Being. The concept of the SDC is also in line with the theme of One Malaysia: People First, Performance Now announced by YAB Datuk Seri Najib Tun Razak, the current Prime Minister.
The SDC programmes are underpinned by the three key principles that will guide development in Sabah, namely the need to:
· Capture higher value economic activities
· Promote balanced economic growth with distribution
· Ensure sustainable growth via environmental conservation
The initiative by YAB Datuk Seri Mohd Najib Tun Razak to introduce a new high income service-based economic model driver by creativity, innovation and high value is clearly consistent with the principles underpinning the SDC programmes. Under the SDC initiative, sub-regions and growth centres will be planned systematically to ensure optimum resources utilisation, and development efforts are well-coordinated.
The initial focus is on enhancing Sabah’s liveability index and making it a business friendly location via targeted infrastructure upgrading and by lowering the cost of doing business.
By 2025, the SDC initiative aims to triple Sabah’s Gross Domestic Product (GDP) per capita and increase its GDP by four times through the implementation of the prioritised programmes. In total, more than 900,000 new jobs are expected to be generated during the SDC implementation period.
Hardcore poverty is targeted to be eliminated by the end of the Ninth Malaysia Plan (9MP) with overall poverty halved from 23% in 2004 to 12% in 2010.
SDC VISION AND MISSION
The vision for Sabah is to be a vibrant, economically successful and liveable state by articulating a set of five unique attributes that will mould the future of this state:
• A preferred gateway for trade, investment and leisure for leading businesses and
talents from around the world in key areas
Sabah Development Corridor Vision and Mission
SEDIA AS THE ONE-STOP AUTHORITY TO DRIVE SDC
In order to expedite the implementation of SDC, the Sabah State Legislative Assembly had approved the instrument for the establishment of SEDIA via the adoption of Sabah Economic Development and Investment Authority Enactment 2009 on 15 January 2009. The Enactment was assented by Tuan Yang Terutama Negeri Sabah on 23 February and gazetted on 26 February 2009.
SEDIA has been entrusted as the One-Stop Authority to drive SDC, with the primary responsibility to plan, coordinate, promote and accelerate the development of the SDC.
OBJECTIVES OF SEDIA
The objectives of SEDIA are as follows:
Ø To promote and accelerate the development of the SDC into a leading economic region and a choice investment destination for investment, work and living; and
Ø To ensure that social development and sustainable development are kept as priorities whilst driving economic growth in the SDC
FUNCTIONS OF SEDIA
The functions of SEDIA are as follows:
Ø To recommend to the Government of the Federal Government on all projects of potential growth and opportunities to be included in the SDC;
Ø To disburse funds received from the Government or the Federal Government for the SDC to the relevant implementing Government Entitities;
Ø To coordinate the expeditious implementation of all projects in the SDC by performing the functions of a one-stop centre;
Ø To monitor and report to the Government and the Federal Government the status of all projects in the SDC;
Ø To promote and market the SDC as an attractive business and investment location;
Ø To recommend to the Government and the Federal Government incentives for the SDC;
Ø To recommend to the Government or the Federal Government on policy reforms and other initiatives for the SDC;
Ø To source funds for the SDC; and
Ø To do all things as are expedient, advantageous or necessary for, or incidental, supplemental or consequential to, the performance of the functions of the Authority and the better carrying out of the purposes of the SEDIA enactment.
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Updated on : 30 September 2012