Key Transformational Highlights - Labuan IBFC: A Driver for Growth

Growth drivers have been identified in Labuan Development Blueprint 2030 (Labuan Blueprint) as the engine of Labuan's economy to keep Labuan's growth at the rapid rate as experienced in the previous years. The selected growth drivers are more diverse able to spur both economic development and inclusiveness. With Labuan's limited population and resources, the selected growth drivers are sectors that are able to export their products and services to consumers outside Labuan. Thus, their growth are not constrained by the size of domestic market, but the demand within the extended market and larger catchment. However, the success of these growth drivers must be supported by good enabling environment especially the connectivity to the immediate regional market.