The proposed Labuan-Sabah Bridge will not only spur the socio-economic development of the island, but further develop the Labuan International Business and Financial Centre (IBFC) by creating better connectivity with the greater Asian region.

Labuan IBFC Incorporated Sdn Bhd, in a statement, said it was imperative that the offshore centre remained accessible to both users and the industry serving it.

“We very much welcome the announcement contained in the Budget 2018 of a feasibility study to be conducted towards the development of the long-awaited bridge linking Labuan Island to mainland Sabah,” it said.

The company was responding to the Budget 2018 unveiled by Prime Minister Najib Razak in Parliament today.

“We expect that once completed, this bridge will facilitate the further development of the jurisdiction, by enhancing both its physical and digital connectivity, as well as expanding the talent pool available for its further growth,” Labuan IBFC Incorporated said.

Labuan IBFC Incorporated is a wholly-owned subsidiary of the Labuan Financial Services Authority and is the official agency established by the government to promote and market the Labuan IBFC.-BERNAMA

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