Kota Kinabalu: Sabah achieved total approved investments amounting to RM22 billion over the last two years, said Industrial Development Minister Datuk Phoong Jin Zhe.
He said Sabah’s total approved investments amounted to RM11 billion in 2022 and about RM11 billion also last year.
“That makes Sabah one of the top states with approved investments. We also achieved the highest total trade in 2023.
“That shows the economic recovery and growth in recent years. It can’t be achieved without the full cooperation of Invest Sabah Berhad under the leadership of Tan Sri Anifah Aman as Chairman.
“On behalf of the Ministry, I thank Invest Sabah for the close cooperation,” he said at the Invest Sabah’s breaking of fast ceremony, here, Friday.
Phoong said Sabah will continue to work to rebuild its economy and ensure the State can leapfrog and develop into an economic powerhouse.
“That is our mission, I hope 2024 will be a better year.
“We have seen very significant figures showing we are on the right track, especially on the industrial development side. Our projection for this year is that the manufacturing sector’s contribution to Gross Domestic Product (GDP) will be higher than last year.
“This is a positive sign for the State’s industrialisation effort, which is very important.
“It is very important to work with Invest Sabah to bring in more investments, especially for industrial development, including manufacturing. We have to work even harder to make sure Sabah continue to be on the right track towards industrialisation,” he said.
