Sabah secures RM4.4 billion in investments

 By Olivia Miwil - December 23, 2021 @ 3:01pm

Sabah secured the third largest number of investments in the country during the first half of this year, said Chief Minister Datuk Seri Hajiji Noor. - BERNAMA Pic

KOTA KINABALU: Sabah secured the third largest number of investments in the country during the first half of this year, said Chief Minister Datuk Seri Hajiji Noor.

The state, he said, secured seven investments worth RM4.4 billion in the manufacturing sector approved by the Malaysian Investment Development Authority (MIDA).

Selangor led the list with RM4.6 billion in investments followed by Kedah with RM42.6 billion.

Hajiji, who is also state Finance Minister, said all quarters must continue to work together to keep the momentum for a more productive year ahead.

Chairing the second Invest Sabah Bhd (ISB) board of directors meeting at Menara Kinabalu here today, Hajiji said he is keen on seeing more synergy between state and federal agencies to push Sabah's investment agenda.

"I 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 well-meaning investors will only hurt efforts to draw investors to Sabah.

"Hence, everyone must do their part to remove these hurdles to facilitate investments," he said in a statement.

Hajiji said there are more high-impact projects on the cards and hoped that more investments would come in from both local and abroad.

To date, Sabah has made inroads with the signing of agreements for three high-impact projects to drive the Sabah Maju Jaya initiative – the combined RM10 billion Lok Kawi Resort City, the copper foil manufacturing facility and the Integrated Coconut Project.

"The state government has taken various measures to cushion the negative impact of the Covid-19 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.