This Act, comprising 29 sections, aims to create the Sabah Development Corridor (SDC) and establish the Sabah Economic Development and Investment Authority (SEDIA) as the statutory body responsible for promoting, coordinating, and accelerating economic and social development in Sabah. It aims to transform Sabah into a leading economic region and an attractive destination for investment, work, and living, while ensuring that social and sustainable development remain central priorities. Through SEDIA, the Act provides a mechanism to coordinate, monitor, and implement all projects within the SDC, serving as a one-stop centre for managing development efforts and reporting progress to the government. In this context, the term “corridor” refers specifically to the project or projects designated by the Governor of Sabah. It represents a designated economic development region that brings together multiple projects, programmes, and zones aimed at stimulating growth. It functions as a strategic development area in which long-term, coordinated economic, social, and investment initiatives are carried out under SEDIA’s oversight. Section 14 establishes the Sabah Economic Development and Investment Authority Fund, used to channel government allocations to implementing entities, cover the Authority’s operational costs, including staff remuneration, and support approved investments or acquisitions necessary for carrying out its mandate.
Malaisie · 2009-02-23