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Sabah records RM11.5bil investments in 2022

Sabah records RM11.5bil investments in 2022

28 Mar 2023

Sabah recorded investments worth RM11.5 billion in various sectors in 2022 involving 89 projects which could generate 4,566 jobs, said international trade and industry minister Tengku Zafrul Aziz.

“Of the total amount, RM9.2 billion consisted of foreign direct investment (FDI) and RM2.3 billion was domestic direct investment.

“The manufacturing sector was the biggest contributor with RM8.4 billion, or 72.9%, while the primary sector contributed RM1.6 billion and the services sector RM1.5 billion,” he told the Dewan Negara in response to queries from Noraini Idris.

Tengku Zafrul said high profile projects worth over RM100 million were mainly in petroleum products, non-metal mineral products, and transport machinery.

He said his ministry, through the Malaysian Investment Development Authority (Mida), is committed to attracting FDI into Sabah, especially in targeted industries.

“Mida always cooperates strategically with all investment agencies at the state and economic corridor levels in attracting investment.

“In this matter, Mida has always cooperated with Sabah’s industrial development and entrepreneurship ministry and the Sabah Economic Development and Investment Authority in trade missions to promote investment opportunities available in the state,” he said.

Among the targeted industries in the state are green technology-based manufacturing, renewable energy, logistics and eco-tourism.

Source: Bernama