Investment Promotion Agency Holds Webinar Highlighting Sabah’s Budding Logistics Investment Opportunities
Kota Kinabalu (Friday) – A webinar was held yesterday morning to promote the investment potentials available in Sabah’s cold chain logistics sub-sector. Organised by the SEDIA Investment Promotion Unit (SEDIA IP), the webinar saw participation from various logistics sector players from Peninsular Malaysia as well as Singapore. Entitled “Emerging Opportunities in the Logistics Industry — Cold Chain Logistics”, the event is SEDIA IP’s inaugural webinar for the year 2022 and will tentatively be followed up by a series of other events that will promote investment in Sabah’s other core economic sectors.
The logistics industry in Malaysia has evolved in recent years, as the rise of e-commerce in the country, as well as a shift in consumer behaviour to buy fresh and frozen food, has bolstered the growth of cold chain facilities and infrastructure support. In Sabah, the current market landscape is fragmented with a few large players across the value chain; however niche segments such as cold chain logistics are increasing. SEDIA IP is increasing its efforts to ensure services in this supporting sector in Sabah develop further, in order to facilitate growth in related sectors and manufacturing activities.
The objectives for the webinar are to:
- Highlight that Sabah continues to welcome investors to do business amidst the COVID-19 pandemic, remaining steady towards economic recovery and growth all while balancing public health and the livelihood of the people;
- Update on the current happenings, trends, and latest incentives and initiatives in the cold-chain logistics sector;
- Highlight the challenges and opportunities during and after the COVID-19 pandemic, i.e. the future of the logistics industry; and
- Learn about the business-friendly environment, analysis of the market and how SEDIA IP offers facilitation services to companies looking to explore the Sabah markets.
The participants that were targeted for this event are from private companies, chambers of commerce, NGOs in the logistics sector, local Government Ministries and Agencies, municipal councils, as well as government-linked companies in the logistics sector. Speakers for the event comprised of representatives of industrial parks in Sabah, the Malaysian Investment Development Authority, cold chain logistics players in Sabah, as well as from SEDIA. Towards the end of the event, a Q&A session saw enquiries cover topics relating to the offerings from Sabah’s industrial parks, the state’s logistics statistics, available infrastructure and incentives, existing challenges in the sector, as well as upcoming plans and trends in logistics..
This event also introduced SEDIA IP as the dedicated unit within the Sabah Economic Development and Investment Authority (SEDIA) that will actively promote and facilitate inward investment in Sabah, providing various support services to investors to assist in their business/investment expansion. SEDIA IP had been established during 2021 through collaboration between SEDIA and the World Bank Group.
Facilitating inward investment to Sabah through SEDIA IP is one of the focuses of the larger SEDIA statutory body, of which all its initiatives to reinvigorate the state economy are aligned to the State Government’s Sabah Maju Jaya development plan. In this regard, SEDIA is redefining the direction of its Sabah Development Corridor (SDC) programmes towards 2030 in response to the pandemic, while also aligning with the latest Federal and State Governments’ policies and initiatives. The newly completed SDC Blueprint 2.0 will chart Sabah’s development over the 10-year period from 2021 until 2030. Five Strategic Thrusts are prioritised, through which 30 SDC initiatives will ensure maximum impact on Sabah’s overall socio-economic growth.
SEDIA will work together with all agencies at the Federal and State levels, to take on a positive role in attracting private investments and aligning public spending so that the development projects are implemented as planned and in accordance with the strategies of the SDC Blueprint 2.0.