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      19 December 2018  

Ukraine embassy pays courtesy visit to SEDIA

Kota Kinabalu (Wednesday) - The Sabah Economic Development and Investment Authority (SEDIA) received a courtesy visit yesterday morning by Trade and Commerce Officer Yevhenia Shynkarenko from the Embassy of Ukraine in Malaysia. The embassy representative was received by SEDIA Chief Executive Datuk Dr. Mohd Yaakub Johari and Deputy Vice President Jesi Majungki, and together held a discussion on potential collaboration towards enhancing the Sabah and Ukraine economies.

  SEDIA Chief Executive Datuk Dr. Mohd Yaakub Johari (centre) presenting Ukraine embassy officer Yevhenia Shynkarenko (right) with a memento during her courtesy visit to Wisma SEDIA

Yevheiva shared that Ukraine's strength is in the aerospace industry, which may be a possible match for enhancing relations with Sabah. The existing aviation industry in Ukraine includes large plane manufacturing activities as well as pilot training academies. She also elaborated that Ukraine has a mature shipbuilding industry, in addition to efforts towards producing environmentally friendly automotive vehicles. The Ukraine embassy officer also explained that Ukraine is keen to promote collaboration on a regional basis, to which Datuk Dr. Yaakub suggested that Ukraine may look at Malaysia as a regional hub within ASEAN for promoting its trade.

The possible economic collaboration with Ukraine would align well with current efforts in the Sabah Development Corridor (SDC). In order to enhance seamless movement of air passenger and cargo, the Federal government had commissioned through SEDIA an Air Freights and Aviation Hub Masterplan Study. The location, once finalised, could also provide support for various aviation businesses and services such as logistics support for e-commerce, premium outlets, Fixed-based Operation for private jets and charter, Maintenance, Repair and Overhaul (MRO) services, and aerospace manufacturing industries.

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 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.

During the Eleventh Malaysia Plan, SEDIA has been according greater emphasis on improving the state's economic competitiveness by enhancing the state's global connectivity to ensure seamless movement of people, goods and services. Efforts would be directed especially towards enhancing the efficiency of the logistics sector by improving the relevant infrastructure and the integration of land, sea, and air services. In the long run, this will help in reducing the cost of living and doing business.

The introduction of SDC has no doubt created greater awareness on investment opportunities in Malaysia's second largest state. Unlike other development corridors in Malaysia, SDC - an 18-year economic development programme - covers the whole state of Sabah. The corridor initiative uses a holistic development approach to ensure economic development benefits everyone in the state. Subsequent to the launching of SDC, SEDIA has been promoting Sabah, under the SDC investment tagline, "A preferred destination for business, culture and nature". With the advantages that Sabah has to offer, SEDIA has managed to attract tremendous interest amongst local and foreign investors into Sabah.

Measures implemented under SDC have clearly succeeded in drawing investments into Sabah. By the second quarter of 2018, SDC recorded RM166.33 billion of cumulative committed investments. Investments in SDC have clearly gained traction that, by 2017, Sabah recorded annual GDP growth at 8.2 percent, the fastest in Malaysia, overtaking all the other states in Malaysia and surpassing the national average at 5.9 percent, as reported by the Department of Statistics (DOS). The DOS observed that the rapid economic growth was driven by major government initiatives especially the implementations of SDC projects.

- Media SEDIA

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