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Enhance negotiation process to attract investors – Sabah CM

Enhance negotiation process to attract investors – Sabah CM

22 Jan 2021

Sabah Chief Minister Datuk Hajiji Noor wants some of the investments that are still in the negotiating process to be enhanced and run smoothly so as to attract more investors to the state, especially in the battery component manufacturing sector for electric vehicles, glass manufacturing, port management and aerospace industry.

Hajiji, who is also the state Finance Minister, said that if all the investments were realised, it could create over 1,500 job opportunities for the people of Sabah, apart from earning direct and indirect income returns worth millions of ringgit to the state.

“I will monitor all the efforts of the relevant parties in attracting investors to the country, including asking for reports from time to time so that whatever we have planned, especially to develop the state’s economy, can be realised. This is because we want the state and its people to benefit from the planned economic development,” he said.

He said this after a visit by a delegation from the Ministry of International Trade and Industry (MITI), Sabah Regional Office led by its director, Mohd Hijri Mat Rani, here yesterday.

Hajiji said the state government always facilitated business and investor-friendly activities in Sabah in an effort to enhance as well as attract more investors to the state.

He said this was in line with the state government’s commitment to give priority to the state’s economic development agenda and the successful implementation of the Sabah Maju Jaya Roadmap (2021-2025 Development Plan).

Meanwhile, Hajii also recommended that MITI cooperates with state investment agencies, including the newly-established Sabah Economic Advisory Council (SEAC) to attract investments from within and outside the country to Sabah as the state has great potential, in addition to its strategic position in the region and the availability of various natural resources.

During the visit, MITI revealed that Sabah’s manufacturing sector investment approval by MIDA, through MITI, was RM6.46 billion for 15 projects for 2019 and RM11.86 billion for 12 projects last year for the period of January to September.

Meanwhile, the total performance of Sabah’s international trade, including with the Peninsular and Sarawak, last year for the period January to October was RM67.1 billion, involving exports of RM33.9 billion and imports of RM33.1 billion.

Source: Bernama