RM11.346 billion investment in 2023: Phoong
Published on: Tuesday, April 23, 2024
By: Jozie John
Phoong and Christina Liew (PKR – Api Api) at the State Assembly yesterday.
Kota Kinabalu: SABAH’S total investment in 2023 reached RM11.346 billion which includes investments in primary sectors, manufacturing and services.
State Industrial Development and Entrepreneurship Minister Datuk Phoong Jin Zhe said Sabah was ranked the seventh highest investment state in the country last year.
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Phoong (DAP - Luyang) pointed out that in 2021, despite the impact of the Covid-19 pandemic, Sabah remained one of the investment destinations in the country.
“In 2021, Sabah’s total investment reached RM6.045 billion and RM11.561 billion in 2022 in various sectors,” he said during the question and answer session at the State Assembly, Monday.
He was answering questions from Datuk Seri Dr Mohd Salleh Tun Said Keruak (BN-Usukan), Nominated Assemblyman Datuk Raime Unggi and Mohd Tamin @ Tamin Zainal (BN-Pantai Manis).
Phoong said the Sabah Government succeeded in boosting the industrial sector and further encouraging investment to grow in the economic chain when the company, SK Nexilis Malaysia Sdn Bhd, expanded its investment in the State through its subsidiary company, Curix Sdn Bhd, to build a RM 300 million copper granule manufacturing plant in the Kota Kinabalu Industrial Park (KKIP).
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“At the same time, my Ministry is coordinating the investment proposal from Kibing Group to increase the capacity of its solar photovoltaic glass production at its factory in KKIP by adding a third production line with an expected additional investment of RM700 million, creating up to 600 new jobs” he said, adding there were several other investment proposals currently being coordinated.
Responding to an additional question from Datuk Seri Shafie Apdal (Warisan – Senallang), Phoong said Kibing Group has provided a total of 1,661 jobs in Sabah, with Sabahans accounting for 1,430 or 86.09 per cent of them.
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Phoong believes that to successfully attract investors to Sabah and create more job opportunities, it is necessary to provide them with more attractive incentive measures and ensure that their investment projects are successful.
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