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Close cooperation between Federal, Sabah govts boosts inflow of high quality investments

Close cooperation between Federal, Sabah govts boosts inflow of high quality investments

21 Mar 2021

The close cooperation between the Federal government and the Sabah state government provides more room for the inflow of high quality investments into the Land Below the Wind, said Senior Minister Datuk Seri Mohamed Azmin Ali, who is also International Trade and Industry Minister.

He said the influx of new high-quality investments was seen as a way to reduce the dependence on foreign labour and provide more employment opportunities for Sabah’s skilled workers.

“I am confident that Sabahans have the skills and potential to be involved in this (investment in) high-tech industry and they should be given the best opportunity to get high-quality jobs

“I will discuss with Sabah Chief Minister (Datuk Seri Hajiji Noor) tomorrow afternoon on four more big (investments) which have shown interest in coming to Sabah. There are only a few matters we need to resolve to make Sabah an investment destination,” he told reporters here today.

Earlier, Azmin had a meeting with Kim Young-tae, the president and CEO of SK Nexilis, a reputed company from South Korea.

It was reported that SK Nexilis will invest RM2.3 billion for the construction of the Kota Kinabalu Industrial Park (KKIP) copper foil factory, the construction of which will start in July and is expected to be completed within two years.

Commenting on SK Nexilis’ investment, Azmin said the factory would be built with 5,000 workers, and when completed, would provide employment opportunities for 400 skilled workers.

“This investment will definitely have a positive impact on Malaysia. Once again, it proves that foreign investors are confident in Malaysia by placing such large investments.

“At RM2.3 billion, it is one of the largest investments in Sabah,” he said.

Source: Bernama

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