Asian Development Bank, Labuan Chamber Of Commerce Discuss Labuan's Potential Economic Growth
By Jailani Hasan
LABUAN, May 22 (Bernama) -- The Asian Development Bank (ADB) held a strategic engagement session with the Labuan Chamber of Commerce (LCC) to explore Labuan’s potential as a regional platform capable of supporting economic growth and connectivity across Asian countries.
The ADB delegation was led by director-general of ADB’s Southeast Asia Department Nianshan Zhang, accompanied by Said Zaidansyah, advisor at the Office of the Director General, Southeast Asia Department, and Gary P. Krishan, senior country specialist with the Regional Cooperation and Integration Unit, Southeast Asia Department.
Representing the chamber were LCC chairman Daniel Doughty, deputy chairman Tan Soon Kiat and secretary general Raymund Pang, together with representatives from the business, education and SME sectors.
Among those present were Steven Tee representing Sky Park Labuan, Sukor Ashak from HMR Konsultan (Labuan) Ltd, Jefery Tan, Azhar Othman, Chia Sia Theng from Multisupply Enterprise Sdn Bhd, Ah Bee and Geoffrey Harvey Tanakinjal representing the Labuan Faculty of International Finance, Universiti Malaysia Sabah.
The discussion focused on improving connectivity, strengthening education and Technical and Vocational Education and Training (TVET), enhancing human capital development and supporting the growth of small and medium enterprises (SMEs).
Participants also highlighted Labuan’s strategic role within the BIMP-EAGA framework and its potential to emerge as a stronger regional hub for finance, logistics and digital economic activities.
The delegation also discussed Malaysia’s incentive framework, which provides a 100 per cent income tax exemption for qualifying Islamic finance and takaful business activities utilising digital solutions until the Year of Assessment 2028, in line with the MADANI Economy framework introduced by Prime Minister Datuk Seri Anwar Ibrahim.
During the engagement, Zhang said ADB remains committed to supporting sustainable, inclusive and resilient growth across Asia Pacific through strategic partnerships, infrastructure development and regional cooperation initiatives.
Said said ADB supports projects in developing member countries through public and private sector operations, advisory services and knowledge support aimed at generating strong economic and development impact.
Meanwhile, Krishan stressed the importance of regional cooperation and integration in strengthening economic connectivity, SME development and sustainable regional growth.
The engagement reflected growing interest in enhancing Labuan’s role as a regional gateway linking Malaysia with wider Asian economic opportunities through sustainable development, innovation, education and business collaboration.
-- BERNAMA