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RM336m investments first 2 months
Published on: Thursday, April 17, 2014

Kota Kinabalu: Sabah received RM336 million in domestic and foreign investments in the first two months of this year according to Malaysian Investment Development Authority, said Deputy Chief Minister, Datuk Raymond Tan Shu Kiah.

He said the momentum of investment inflow, especially into manufacturing sector, was encouraging and the Government would continue its efforts to attract more investors. "Based on Statistics Department data, the manufacturing sector in the State offers vast job opportunities.

In 2011, there were 21,795 vacanies, 2012 (11,358) and in 2013 (10,322)," he said.

Tan, who is also Minister of Industrial Development, said this in winding-up debate of his ministry at the Sabah State Legislative Assembly, here, Wednesday.

He said the manufacturing sector also helped boost the growth of small and medium enterprises in the State, from 24,798 to 40,884.

Sabah's manufacturing sector recorded more than RM1 billion in foreign investments last year, up 275 per cent, from 2012, said the Malaysian Investment Development Authority (MIDA).

Its Assistant Finance Minister Datuk Ramlee Marhaban said Sabah provided a conducive economic, social and political climate, making it an attractive destination for foreign investments.

"As such, the State Government welcomes foreign investments as it would strengthen and develop the economy further and bring prosperity to Sabahans," he said in reply to Datuk James Ratib (BN-Sugut).

Other factors that lured investors to the State included, investor-friendly policies, excellent utilities and infrastructure, easy availability of natural resources, competitive cost of doing business, skilled workforce and efficient delivery system.

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