The Formation

The Sabah Economic Development Corporation (SEDCO) was established on 21 December 1971 by the State Legislature. The Corporation is under the Ministry of Industrial & Rural Development and charged with the task of implementation of the Ministry's Commercial and industrial programme.

SEDCO was formed essentially as an operational arm of the Government to implement the New Economic Policy and a machinery to co-ordinate, direct and if necessary to participate actively in the establishment of industries which would create new job opportunities and would ensure greater Bumiputera participation in commerce and industries.

Initial Functions

Under the SEDCO Enactment, the Corporation is 

• to promote the development of land for agricultural, industrial, commercial trading and residential purposes.
• to undertake and participate in agricultural, industrial, commercial trading and housing enterprises.
• to provide and facilitate the Grant of Credits for agriculture, industry, commerce, trade, rural and urban housing and building and utilities both of public and private nature.
• with the concurrence of the Yang Di Pertua Negeri to finance, carry out or assist in carrying out any scheme or urban and rural development.
• to undertake land reclamation work
• to participate in mining activities.

Initial Activities

To achieve its aims and objectives and to carry out its duties, SEDCO's activities and strategies are geared, in line with the New Economic Policy :-