POIC’s application principally approved by federal Finance Ministry Sabah’s first Free Trade Zone

Sabah Industrial Development and Entrepreneurship Minister Ginger Phoong Jin Zhe said the federal Finance Ministry had principally approved the application of POIC Lahad Datu to be declared as an FTZ. He said this was revealed during the roundtable meeting he co-chaired with the Deputy International Trade and Industry Minister Liew Chin Tong at MIDA Sentral in Kuala Lumpur, Monday.“The Finance Ministry has confirmed this...More information will be released later on.

Hajiji, in September last year, had stated that the State Government in principle agreed to support an FTZ declared in Lahad Datu as part of the five initiatives to spur the east coast’s economic progress.Sabah Small and Medium Enterprises Association President Foo Ngee Kee, then in supporting such FTZs, said it would create more job opportunities and see the establishment of more SMEs, therefore reducing the unemployment rate in Sabah.

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