Kota Kinabalu: The Sabah Industrial Investment Coordination Committee is actively coordinating 11 investment proposals with a total potential investment amounting to RM30 billion.
State Industrial Development and Entrepreneurship Datuk Phoong Jin Zhe revealed that aside from foreign investments, the State Government is committed to continuing to empower the committee to help coordinate various domestic investment projects.
He said attracting and successfully realising investments are the results of the joint efforts of the Sabah Industrial Investment Coordination Committee to achieve the goal of making Sabah an industrial and investor-friendly state.
Phoong said Invest Sabah Berhad (ISB), established under his Ministry, acts as a one-stop centre for consolidating investment proposals from various industries.
He said through ISB investors need only consult the agency without having to visit every government agency for investment matters.
This is to make it easier and faster for investors.
“At the same time, Invest Sabah will continue to introduce and promote Sabah as an investor-friendly investment destination, in line with the Sabah Maju Jaya (SMJ) development plan.
“With our strengths and efficiency in investment coordination, I believe we will not only successfully attract investments to Sabah but also achieve successful investment cases like Kibing Group and SK Nexilis,” he said in a written response to Kukusan Assemblywoman Rina Jainal during the state assembly’s question-and-answer session.
She inquired about how the state government ensures the investment process is simple, fast, and transparent, and whether there is a one-stop centre or dedicated agency to assist foreign investors with official and approval matters.
Phoong said the State Government successfully secured investments from SK Nexilis Malaysia Sdn Bhd and China’s Kibing Group during a very encouraging period, reflecting the state government’s commitment to ensuring the investment process is simple, fast and transparent.
“Sabah’s journey to becoming an investor-friendly state began with the establishment of the Sabah Industrial Investment Coordination Committee under my ministry.
“The committee comprises members from state government agencies, the federal government, and local authorities, serving as a platform to coordinate and promote domestic and foreign investment affairs in Sabah,” said Phoong.
He also cited the example of the SK Nexilis Malaysia and Kibing Group factories, which were completed within just seven months, demonstrating that the committee’s existence has indeed successfully facilitated state investments and reduced bureaucratic red tape.
Both factories are now operational and producing their respective products.
Phoong further pointed out that when Korea’s Curix Sdn Bhd decided to invest in a copper granule manufacturing plant in the Kota Kinabalu Industrial Park (KKIP), it also illustrated the committee’s significant success in coordinating investments.
