Sabah to boost SME financing, transport, industrial Infrastructure, says minister

KOTA KINABALU (Feb 15): The Sabah Ministry of Industrial Development, Entrepreneurship and Transport (MINDET) will develop a financing access support ecosystem to assist small and medium enterprises (SMEs) operating in the state’s industrial parks.

Minister Datuk Ewon Benedick said his ministry is formulating initiatives to ease financing for SMEs planning to operate at Kota Kinabalu Industrial Park or Sabah Agro Industrial Park Sdn Bhd.

“Among the main challenges faced by entrepreneurs are collateral requirements imposed by financial institutions, particularly when land and buildings in industrial parks cannot be used as collateral.

“At the ministry level, I have held preliminary discussions and received support from banks and related agencies to explore ways to assist companies in Sabah in obtaining financing. We hope this collaboration can be finalised soon,” he said when officiating the Chinese New Year celebration organised by the Penampang Chinese Chamber of Commerce and Industry (PCCI) at Dewan Hakka in Likas here recently.

The event was attended by leaders and members of Chinese business chambers and associations in the state.

Ewon also announced that MINDET will commence a study on the Sabah Transport Master Plan this year, covering land, sea, and air transportation, including logistics requirements to support the state’s industrial and business ecosystem.

He added that the ministry will continue promoting Sabah as an investment destination, including hosting the inaugural Sabah Oil & Gas Services Conference & Exhibition in June this year, and opening two new industrial parks in Kudat and Kota Belud.

Addressing congestion at Sepanggar Bay Port, he said the ministry is implementing eight interim action plans approved by the State Cabinet.

“After receiving complaints and proposals from various parties, I made this issue my number one priority.

“I am confident these measures will streamline port operations, including cargo clearance processes,” he said, adding that a similar leadership approach will be taken for ports in Sandakan and Tawau.

Ewon, who is Penampang MP, reaffirmed his commitment to the Penampang Development Master Plan 2024-2035, working closely with PCCI and 28 Chinese community associations.

“I believe this Chinese New Year celebration will spur economic progress, business growth, and overall well-being for traders and the people as a whole,” he said.