Victoria ([vikˈtɔriˈa]) or Victoria Town (Malay: Bandar Victoria) is the capital of the Federal Territory of Labuan in Malaysia, an island group off the north coast of Borneo. It is located in the southeast corner of Labuan and its Malay name, "Bandar Labuan" is more commonly used by the locals than Victoria. The town is an urban district within the wider city limits of Victoria which includes Labuan Port, a sheltered deep-water harbour which is an important trans-shipment point for Brunei Darussalam, northern Sarawak and western Sabah.
Since the 15th century, the town area including other parts of Labuan were under the Bruneian Empire. Its history dates back to the time when the island was ceded by Sultan Omar Ali Saifuddin II to the British. Rodney Mundy, a British naval officer, later visited the island under the name of Queen Victoria. The island was then occupied by Japan from December 1941 until June 1945 and governed as part of the Northern Borneo military unit by the Japanese 37th Army. During the Battle of Labuan it was liberated by the 9th Division of Australian Imperial Force on 10 June 1945 and placed under a British Military Administration until 15 July 1946, when it was incorporated into North Borneo Crown Colony. During this time, the Crown Colony government re-established much of the infrastructure that had been destroyed during the war. The island later became part of the state of Sabah and Malaysia in 1963 before the state government of Sabah ceded the island to the federal government in 1984. It was declared an international offshore financial centre and free trade zone in 1990 to assist the development of Victoria.
The major products produced on Labuan and exported through Labuan Port include copra, rubber and sago. Labuan Port is on a natural deep-water bay and large vessels can anchor there as the island are free from any sort of threat like typhoons and hurricanes. Vessels received include containers, bulk, and general cargoes. The main jetty is 244 metres long with an alongside depth of 8.5 metres and it can accommodate vessels to 16 thousand DWT. The wharf has four berths. There are about 15.6 thousand square metres available in open storage, two warehouses and a container yard. A ten thousand square metre yard and warehouses are available outside the port. Labuan Port has capacity to handle 100 thousand TEUs of containerised cargo per annum. There are five private jetties in Labuan Port. The Shell Jetty specialises in petroleum; the Iron Ore Jetty; the Methanol Jetty; and two offshore wheat and maize jetties called the Asian Supply Base Jetty and the Sabah Flour Mill Jetty.
One of Victoria's main features is the Financial Park along Jalan Merdeka which houses international offshore banks, insurance and trust companies. It is an offshore support hub for deepwater oil and gas activities in the region. In 2012, Victoria had a population of over 85,000 with nearly half of those coming from elsewhere in Malaysia and from Brunei Darussalam. It has a 1,500-seat capacity convention hall and a large shopping mall. This modern complex is reputed to be the only one of its kind to be found in any International Offshore Financial Centre in the world.