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Monday, April 5, 2010

PHASE FOR CORRIDOR DEVELOPMENT.

Three Phases for Corridor Development

The Sarawak Corridor will be developed in three phases:

1.Phase I (2008-2015): Building the Corridor Foundation


1.1 9MP(MTR) and 10MP

1.2 To build basic infrastructure for the Corridor

1.3 To grab pioneer industries for the Corridor




2.Phase II (2016-2020): Towards Vision 2020

2.1 11MP

2.2 To ensure the growth and development of the Corridor by building industrial clusters

2.3 To develop R&D capabilities




3.Phase III (2021-2030): Fruition of the Corridor

3.1 12MP & 13MP

3.2 R&D to sustain the economy

3.3 More internally generated investments



Attracting Private Investments

While the Sarawak Corridor is inherently attractive, its attractiveness must be aggressively promoted so that investors, both local and foreign, will come together quickly to the Corridor in sufficient numbers to form the necessary critical mass. In order to direct the flow of investments to their rightful places in the Corridor and the State, special incentives must be designed to ensure unparalleled competitive advantage without undue sacrifice to the long-term benefits of the State and the nation. These can include:

I. Attractive energy prices that are optimal in the long run for both the investors and the State/nation

II. Attractively-priced land leases

III.Attractive immigration rules for foreign expertise and workers, at least in the initial stages of the Corridor development

IV. Adequate provision of sufficient basic utilities and infrastructure (roads, ports, utilities)

V. Attractive tax incentives.

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