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Textile complex to come up in Malaysia's Labuan Island
08 Jul '13
1 min read
The federal territory of Labuan in East Malaysia has received a RM 30 million investment, its largest investment to date, from a Brunei-based investor, for setting up a textile complex, and a five-story hotel.
The investment would help the island in regaining its 1980s glory as the hub of branded clothing and fabric, Malaysian news agency Bernama reported.
The Labuan Corporation has already given green signal for beginning construction work as the necessary documentation process is completed.
The fabric making unit is likely to create new job opportunities and boost economic activities in Labuan, according to the Corporation.
The federal territory of Labuan is made up of the homonymous Labuan Island and six smaller islands, and is located off the coast of the state of Sabah.
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