KUALA LUMPUR (Bernama) – Sabah’s approved investments in its manufacturing sector had expanded by more than 84 per cent to RM890.7 million within the first nine months of 2019 compared with RM140.9 million recorded in the same period last year.
In a joint statement by the Ministry of International Trade and Industry (MITI), Malaysian Investment Development Authority (MIDA) and Sabah Ministry of Trade and Industry, it said that as at June 2019, a total of 776 manufacturing projects with investments worth RM19.9 billion had been approved and implemented in the state.
MITI Deputy Secretary-General (Investment) Hairil Yahri Yaacob said the projects – mainly in food manufacturing, beverages and tobacco, textile and textile products, wood and wood products, as well as furniture and fixtures – created over 91,800 jobs in the state.
He represented MITI Minister Datuk Darell Leiking at the Sabah Investment Seminar 2019 in Kota Kinabalu yesterday.
“In the first nine months of this year, Sabah attracted RM890.7 million in approved investments in the manufacturing sector, of which RM744.6 million were domestic investments, representing 83.5 per cent of Sabah’s total approved investments in the manufacturing sector during the period.
“We are working closely with relevant stakeholders, including state governments and government agencies through various initiatives to attract more investments into all states in Malaysia. We have conducted many outreach programmes to facilitate businesses in Sabah this year. Under our SME Investment Desk initiative, MIDA Sabah has reached out to companies in Kota Kinabalu and Labuan to share information on facilities and incentives available to grow their business,” he added.