Sabah receives more than RM33bil investments

By Olivia Miwil - April 3, 2023 @ 8:21pm

Sabah Chief Minister Datuk Seri Hajiji Haji Noor meeting with tahfiz students during breaking of fast at a hotel here. Photo by Sabah Chief Minister's office. - Pic courtesy of Sabah CM's Office
Sabah Chief Minister Datuk Seri Hajiji Haji Noor meeting with tahfiz students during breaking of fast at a hotel here. Photo by Sabah Chief Minister's office. - Pic courtesy of Sabah CM's Office

TUARAN: Sabah has approved investments worth RM11.5 billion since the Covid-19 pandemic in 2020 until last year.

State Chief Minister Datuk Seri Hajiji Noor said those investments involved 89 projects that generated some 4,566 jobs.

"However, this does not include the Integrated Green Steel project worth RM19.6 billion at the Sipitang Oil and Gas Industrial Park (Sogip) signed 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 when chairing the Sabah Economic Development and Investment Authority (Sedia) meeting at a hotel here.

Hajiji said of the RM11.5 billion, RM9.2 billion consisted of foreign direct investments (FDI) and another RM2.3 billion made up of domestic investments.

Hajiji said 72.9 per cent of the investments or RM8.4 billion was for the manufacturing sector, primary sector comprising agriculture, mining, commodity and plantation (RM1.6b) and the service sector (RM1.5b).

These investments were the cumulative efforts of the Malaysian Investment Development Authority (Mida), State Industrial Development and Entrepreneurship Ministry, Sedia and other related agencies, he said.

Now that Sedia is directly under the purview of the Economy Ministry, the Chief Minister 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.

The State Government also welcomed the People's Income Initiative (IPR) launched by the Economy Ministry on Feb 26, 2023, which will help to lessen the people's burden, especially the hardcore poor and B40 income group through programmes such as the Usahawan Tani (INTAN), Usahawan Makanan (INSAN) and Service Operator (IKHSAN).



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