Chinese investors eye opportunities in Labuan – Zaliha Mustafa

LABUAN: Several industrial firms in China are eyeing investment opportunities in Labuan, particularly within the island’s financial and development sectors.

Minister in the Prime Minister’s Department (Federal Territories) Dr Zaliha Mustafa emphasised the significance of these interests, underscoring Labuan’s potential as a viable economic hub in Asia.

Dr Zaliha said her recent visit to key Chinese cities – Hangzhou, Shanghai, and Shenzhen – was instrumental in building relationships and fostering investor interest.

“During my visit, we engaged with potential investors who are keen to explore business opportunities in Labuan, particularly in financial and development fields,” she told reporters after the Labuan Para SUKMA athlete incentives presentation here tonight.

Dr Zaliha also stressed the importance of sustained engagement with these interested investors to ensure that proposed ventures come to fruition.

“Follow-ups with these parties are crucial to converting these discussions into concrete business investments that will benefit the island,” she said.

In support of Labuan’s growth, Dr Zaliha said Prime Minister Anwar Ibrahim has designated the island as a priority area within the national agenda to address basic amenities and security improvements.

Dr Zaliha said the Finance Ministry (MoF) has committed to providing funds, either directly or through various ministries, to support Labuan’s socio-economic development.

She also provided updates on several task forces set up to advance Labuan’s tourism, transhipment capabilities and connecting Labuan to Sabah via a bridge.

“The tourism task force is not only focused on enhancing Labuan’s tourism offerings but also aims to improve accessibility for tourists and locals alike.

“The transhipment task force is actively progressing, and the bridge linking Labuan to Sabah’s mainland is advancing with the Works Ministry approving a RM500,000 allocation for an initial feasibility study.

“These task forces are fully operational, and several key discussions have already taken place,” Dr Zaliha said.