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Business leader moots turning Labuan into special economic zone

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PETALING JAYA: A business leader in Labuan has suggested that the government consider making the island a special economic zone (SEZ) to ensure its economic development and growth.

PETALING JAYA: A business leader in Labuan has suggested that the government consider making the island a special economic zone to ensure its economic development and growth.

SPONSORED CONTENT Sabah revenue hits RM6.97 billion: Hajiji says GRS State Government may see full term Kota Kinabalu: The Sabah Government continued its momentum in managing the economy in line with the commitment and spirit of the Sabah Maju Jaya when it posted record high state revenue of RM6.973 billion last year. Read more Doughty also said it would be “tantamount to insanity” to maintain Labuan’s current governance model as the island’s economic position looked more uncertain than before.

There have been recurrent calls for Labuan to be returned to Sabah, including by former chief minister Yong Teck Lee. The Labuan Chinese Chamber of Commerce also rejected the calls, saying Anwar’s leadership could bring fresh perspective and new initiatives to stimulate economic growth, infrastructure development and improved social welfare in Labuan.

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