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      21 September 2018  

SEDIA receives courtesy visit by Polish Foreign Trade Office Chief

Kota Kinabalu (Friday) - The Sabah Economic Development and Investment Authority (SEDIA) today received a courtesy visit at Wisma SEDIA by the Chief of Poland Trade Office in Kuala Lumpur Przemyslaw Zareba. Representing the Polish Investment and Trade Agency (PITA), Zareba was welcomed by SEDIA Chief Executive Datuk Dr. Mohd Yaakub Johari, and was given a briefing on Sabah Development Corridor (SDC) programmes and initiatives.

  Datuk Dr. Mohd Yaakub Johari (left) presenting a memento to Przemyslaw Zareba, PITA Bureau Chief for Myanmar and Malaysia (centre)

PITA is a governmental trade promotion agency, reporting directly to the Polish Development Fund as well as the Ministry of Entrepreneurship and Technology of the Republic of Poland. The goal for PITA is to develop mutual Polish-Malaysian business and trade cooperation. The Foreign Trade Office in Kuala Lumpur was established in June 2018, and Zar?ba identified potential for cooperation between PITA and SEDIA. The courtesy visit also served to introduce the new Foreign Trade Office to SEDIA, being a prominent organisation in efforts relating to regional economic development.

During the discussion, Zareba was introduced to the regional approach for investment incentives as offered under SDC, which differ from the sectoral tax incentives generally offered throughout Malaysia. Under SDC, investors are eligible for 100 percent tax exemption for a period up to ten years, available for specific regions as specified under SDC Strategic Development Areas (SDAs). He was made aware of SDAs such as the Palm Oil Industrial Clusters for palm oil activities, as well as Kinabalu Gold Coast Enclave for tourism. Additionally, when enquiring about how Polish investors could enter Sabah, Datuk Dr. Yaakub explained on SEDIA's role as a One-Stop Authority for SDC that can assist by linking potential investors with the relevant local agencies as well as possible local partners.

Zareba noted that Malaysia can appeal to investors due to being more structured as compared to their ASEAN counterparts, while still offering cost competitiveness not found in matured economies. He also expressed that he was keen for Sabah businesses to engage with their Polish counterparts, with the possibility of PITA organising a seminar in Poland and inviting Sabah industry players, or for Polish industry players coming to Sabah to attend a seminar organised here.

The Sabah Development Corridor was launched on January 29, 2008 during the Ninth Malaysia Plan as one of Malaysia's five regional economic corridors, with the aim to accelerate the growth of Sabah's economy, promote regional balance and bridge the urban-rural divide, while ensuring sustainable management of state resources. This was followed by the establishment of SEDIA, through the adoption of the Sabah Economic Development and Investment Authority Enactment 2009 on January 15, 2009. The Enactment was assented by the Tuan Yang Terutama Negeri Sabah on February 23, 2009 and gazetted on February 26, 2009. Through the enactment, SEDIA is vested with the necessary power to serve as a decision-making and execution institution that is tasked with realising the SDC vision and mission, by being the One-Stop Authority to plan, coordinate, promote and accelerate the development of SDC.

SEDIA has promoted SDC programmes and initiatives to investors, both locally and globally. These efforts include welcoming courtesy visits by representatives of foreign countries, overseas trade and investment missions, and attending meetings and promotion-related events at the national and international level. With the commencement of the Second Phase of SDC in 2011, SEDIA has been aggressively promoting investment into SDC. SEDIA has also adopted a more focused and targeted approach in attracting quality investments in new growth areas, especially in service-based, innovation-led and knowledge-intensive industries.

- Media SEDIA

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