Labuan: Members of the Advisory Council of Labuan Corporation commenced their inaugural meeting today, focusing on strengthening the island's economy and addressing several outstanding and emerging economic challenges.

According to BERNAMA News Agency, Advisory Council chairman Datuk Bashir Alias stated that the meeting aimed to refresh and reaffirm the council's role in enhancing Labuan Corp's development agenda for the benefit of the island and its people. 'We discussed a wide range of issues related to Labuan's outstanding and newly arising matters, which will certainly be brought up to the higher level within the Labuan Corp for further action,' he said.

He emphasized that the council members, who come from diverse economic specializations, are well-positioned to contribute their expertise to formulating practical solutions to spur economic growth. Another council member, Datuk Seri Patrick Tiong, a notable figure in the logistics and maritime industries, mentioned that one of the key issues highlighted was the effort to attract more international cruise liners to call at Labuan Port.

Tiong underscored the importance of constant coordination and cooperation among all relevant agencies to ensure smooth reception arrangements for cruise vessels. He noted that a tentative international cruise call at Labuan Port in October could positively impact the island's tourism industry and act as a catalyst for related sectors, including hospitality, retail, and transportation.

He also addressed issues related to Labuan's taxation system, suggesting that it should remain competitive and attractive to both domestic and foreign businesses. 'Perhaps the government should consider offering a three percent tax rate for trading businesses or other sectors, similar to what is currently enjoyed by players under the Labuan International Business and Financial Centre,' he proposed.

Tiong expressed confidence that such measures would greatly encourage more businesses to prosper and contribute to national coffers while positioning Labuan as a more attractive business destination. The new line-up of the Labuan Corp's Advisory Council comprises Bashir as chairman, and members including Tiong, Datuk Ramli Tahir, Datuk Wong Kii Yii, Niswati Tarji, Seah Kiat Leong, and Haziq Ruslain.