Kota Kinabalu: The immense potential of Sabah’s palm oil downstream industry attracted three Chinese enterprises for an on-site visit recently, said Plantation and Commodities Deputy Minister Datuk Chan Foong Hin.
The companies are looking into the potential avenues for investment and collaboration in setting up operations in Sabah.
Chan said over the past two days, representatives from Grand Oil and Food, Welle Environmental Group and Freepoints Commodities have been in Sabah to gain a deeper understanding of the current state and future prospects of the palm oil downstream sector.
“Earlier this year, I made several visits to China to promote collaboration opportunities between Malaysia and China in the plantation and commodities sectors.
“It is encouraging to see these efforts bear fruit, as they have successfully generated significant interest and investment intent from Chinese companies in Sabah’s palm oil downstream industry,” he said in a statement, Monday.
The Chinese delegation first visited Sandakan where they toured the Sawit POIC Sandakan Industrial Park, guided by Sawit Kinabalu Group, to inspect the facilities and port infrastructure.
“This has strengthened foreign investors’ confidence in Sabah’s economy and fostered close collaborative relationships,” Chan added.
Following their Sandakan visit, the Chinese delegation travelled to Kota Kinabalu to participate in a roundtable discussion led by the Ministry of Plantation and Commodities, involving both Federal and State government agencies.
“This meeting primarily focused on exploring the investment opportunities in Sabah and providing insights on the various incentives and support measures available for foreign investors looking to establish operations here,” said Chan.
Chan highlighted that as Malaysia’s leading palm oil-producing state, it is time for Sabah to boost the development of its downstream industry.
“By focusing on the production of high-value-added palm oil products, Sabah can generate substantial economic benefits.”
