Sabah approved RM11.5b in investment since Covid-19 pandemic, say Hajiji - MIDA | Malaysian Investment Development Authority
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Sabah approved RM11.5b in investment since Covid-19 pandemic, say Hajiji

Sabah approved RM11.5b in investment since Covid-19 pandemic, say Hajiji

03 Apr 2023

The Sabah Government has approved investments worth RM11.5 billion involving 89 projects that generated an estimated 4,566 jobs since the Covid-19 pandemic in 2020 until last year, said Chief Minister Datuk Seri Hajiji Noor.

Hajiji, who is also the Sabah Economic Development and Investment Authority (Sedia) chairman, said of the RM11.5 billion in investments, RM9.2 billion was foreign direct investments (FDI), and RM2.3 billion was domestic investments.

He said 72.9 per cent of the investments, or about RM8.4 billion, was in the manufacturing sector, followed by the primary sector comprising agriculture, mining, commodity and plantation (RM1.6 billion) and the services sector (RM1.5 billion).

However, the chief minister said the investment does not include the Integrated Green Steel project worth RM19.6 billion at the Sipitang Oil and Gas Industrial Park that was announced in November 2022.

“With this Green Steel project and other investments in the process of implementation, Sabah will be receiving a total of RM33.4 billion,” he said in a statement after chairing the Sedia board members meeting here, today.

Hajiji said these investments were the cumulative efforts of the Malaysian Investment Development Authority (MIDA), the Sabah Industrial Development and Entrepreneurship Ministry, Sedia and other related agencies.

The Chief Minister said now that Sedia is directly under the purview of the Economy Ministry, he wanted all applications and implementation of projects under the Sabah Development Corridor (SDC) to be better coordinated with set timelines and all procedures to be complied with.

Later, Hajiji broke fast with Sedia board members as well as 100 orphans and students from four homes and Tahfiz centres in Tuaran, namely Home Tuaran, Maahad Tahfiz Assohabah, Tarbiyatun Nisa, and Pusat Tahfiz Al-Quran Ash-Shabab Al-Mardhiyah. 

Source: Bernama