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Wikipedia: Labuan

June 3, 2017

Labuan /ləˈbuːən/ (Jawi: لابوان), officially the Federal Territory of Labuan (Malay: Wilayah Persekutuan Labuan, Jawi: ولايه ڤرسكوتوان لابوان), is a federal territory of Malaysia. It is made up of the eponymous Labuan Island and six smaller islands, and is located off the coast of the state of Sabah in East Malaysia. Labuan’s capital is Victoria and is best known as an offshore financial centre offering international financial and business services via Labuan IBFC since 1990 as well as being an offshore support hub for deepwater oil and gas activities in the region. It is also a tourist destination for people travelling through Sabah, nearby Bruneians and scuba divers. The name Labuan derives from the Malay word labuhan which means harbour.[4] Labuan is often referred to as the pearl of Borneo.[citation needed]
Economy[edit]

The economy of Labuan thrives on its vast oil and gas resources and international investment and banking services. Labuan is a very much an import-export oriented economy. Virtually all of its commodities including crude oil, methanol, HBI, gas, flour, animal feed, sea products and ceramic tiles are exported either to Peninsular Malaysia or overseas.

SOURCE:

https://www.google.dk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0ahUKEwj017Lmv6HUAhUBpCwKHebADU8QFggkMAA&url=https%3A%2F%2Fen.wikipedia.org%2Fwiki%2FLabuan&usg=AFQjCNFXwe7nzuSyfIiFiflOnTKt07U3Ag

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