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Sabah secures RM4.4 bln investments in manufacturing sector

Sabah secures RM4.4 bln investments in manufacturing sector

23 Dec 2021

Sabah secured seven investments valued at RM4.4 billion in the manufacturing sector approved by the Malaysian Investment Development Authority (MIDA), the third biggest in the country after Kedah (RM42.6 billion) and Selangor (RM4.6 billion), in the first half of this year.

Chief Minister Datuk Hajiji Noor said hence, all quarters must continue to work together to keep the momentum as the state looks forward to a more productive year ahead.

Chairing the second Invest Sabah Bhd (ISB) board of directors meeting here today, the chief minister said he wants to see more synergy between state and federal agencies in pushing Sabah’s investment agenda.

“I have said during the first ISB Board of Directors meeting that I want all hurdles hampering investments into Sabah to be removed because red tape faced by wellmeaning investors will only hurt efforts to draw investors to the state. Hence, all must do their part to remove these hurdles to facilitate investments,” he said.

Hajiji, who is also Sabah Finance Minister, said the Halatuju Sabah Maju Jaya (SMJ) development plan was put in place to guide the state’s development agenda.

“To date, we have made inroads with the signing of three high-impact projects to drive the SMJ initiative — the combined RM10 billion Lok Kawi Resort City, the copper foil manufacturing facility, and the Integrated Coconut Project.

“More high-impact projects are on the cards and I am hopeful that with these investments coming in from both local and overseas, Sabah and the people will benefit immensely,” he said.

He noted that despite the challenges posed by the COVID-19 pandemic in the past two years, the state’s focus and determination to pursue development goals never wavered.

“The state government has taken various measures to cushion the negative impact of the pandemic and to re-stimulate the growth of Sabah’s economy.

“We are confident that the implementation of the National Recovery Plan and various stimulus packages by the federal government will spur efforts in Sabah’s economic recovery. Therefore, it is time for us to move forward to put our plans into action,” he said.

Earlier, the chief minister paid tribute to the late Datuk Tan Kim Beng, ISB board member who passed away earlier this year.

Source: Bernama

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