Govt urged to recognise Labuan as startup and innovation cluster to create easy access to Entrepreneurs

KUALA LUMPUR: A member of the Dewan Negara today suggested that the government consider Labuan as a startup and innovation cluster in an effort to help start-up businesses outside Peninsular Malaysia gain easy access to assistance and support available in the market.

Senator Tan Sri Anifah Aman said although there is a lot of help and support in Malaysia, especially in the form of funds and capital, start-up companies in Labuan, Sabah and Sarawak often lag behind due to access constraints.

“Most of the help and support is beyond the reach of entrepreneurs living in Labuan, Sabah and Sarawak because they have to attend the selection and interview process in Putrajaya.

“To ensure easy access, I call on the federal government to consider Labuan as a startup and innovation cluster,“ he said while debating the Supply Bill 2024 for the second reading in Parliament today.

Anifah also said the recognition of Labuan as a startup and innovation cluster will also support the development of the Labuan International Business and Financial Centre.

The business centre has contributed more than RM1 billion to the country’s fiscal revenue in 2022.

Anifah also called on the federal government to consider the proposed construction of a bridge connecting Labuan and Sabah to stimulate the economy in both states.

“We ask the government to consider and find a way to realise this dream that will provide ease of access that can stimulate the tourism industry especially for tourists from Sabah and Sarawak.

“The arrival of foreign tourists will also bring cash flow and is expected to have a positive impact on Labuan’s economy,“ he said.–Bernama