Published on: Saturday, October 19, 2013
Kota Kinabalu: The Malaysian Investment Development Authority (Mida) has approved RM2.8 billion in investments for the Sabah manufacturing sector up to August this year.
International Trade and Industry Minister, Datuk Mustapa Mohamed said the projects are expected to generate 1,057 employment opportunities.
He said his Ministry through MIDA continues to be committed to improving Malaysia's competitiveness to make the country, particularly Sabah an attractive investment destination.
"Such commitment is important in ensuring Sabahan especially the Bumiputera community is not left behind the national transformation," he said.
Mustapa said the Ministry through the SME Bank and Malaysia Investment Development Foundation (MIDF) was also committed in assisting competitive entrepreneurs always looking for access to credit facilities in order to boost their competitiveness.
Ever since its inception in 2005, SME Bank had approved commercial loan totaling RM1.32 billion to more than 1,046 companies in Sabah up to Sept 30, 2013.
The loan was given to local companies in the tourism and oil and gas sectors.
According to MIDF, 119 commercial loan had been approved to the Bumiputera community totalling nearly RM248 million up to Sept 30 this from its inception.
MIDF had approved a total RM904 million to more than 800 companies operating in Sabah since its formation 53 years ago.