Sabah seeks IT investments from the United States
Published on: Saturday, June 15, 2024
Phoong (left) in a discussion with Kagan.
Kota Kinabalu: State Industrial Development and Entrepreneurship Minister Datuk Phoong Jin Zhe invited investments from the United States (US) in Sabah’s information and technology sector.
He extended the invitation during a meeting with the US Ambassador to Malaysia, Edgard Kagan at the Magellan Sutera Harbour, recently.
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Phoong emphasised that his Ministry is committed to attracting investment from US companies to invest in Sabah, in line with the Sabah Government’s policy to remain open and proactive in exploring potential investments from across the globe.
Highlighting Sabah’s steadfast commitment to maintaining and strengthening bilateral relations with the US, he said there are various industrial investment opportunities available, including the development of a new industrial park powered by renewable energy to attract sustainable investments.
Phoong said Sabah boasts one of the cleanest and greenest energy mixes, with the State being 90 per cent dependent on natural gas.
This aligns perfectly with the global ESG agenda, making Sabah an attractive destination for Western companies seeking eco-friendly investment opportunities.
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Furthermore, the Ministry has implemented investor-friendly policies, including a one-stop centre and a dedicated task force to facilitate investments across the State, ensuring a seamless investment experience which will be expedited by Sabah investment arm agency, Invest Sabah Berhad.
Phoong underscored the significance of the two major investments by Kibing Group and SK Nexilis, highlighting his Ministry’s serious commitment to promoting industrial investments in Sabah.
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Acknowledging the need for improvements in Sabah’s basic infrastructure, he assured the US Ambassador that the Sabah Government is diligently working to enhance these areas.
In addition, he proposed the creation of a forum between Sabah and US-based companies in Kuala Lumpur to further understand the wealth of opportunities Sabah has to offer.
He expressed his eagerness to collaborate with the American Malaysian Chamber of Commerce (AMCHAM) and the US-Asean Business Council, both of which he engaged with in May this year, to facilitate and support US investments in Sabah.
Expressing his optimism for a prosperous future of collaboration between Sabah and the US, Phoong looks forward to welcoming more of US companies to explore the abundant opportunities in Sabah, fostering mutual growth and development.
Also present was Invest Sabah Berhad Deputy Chairman George Wong.
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