KOTA KINABALU – Foreign investors are still interested in investing in Sabah, said an assemblyman, citing the state’s value of foreign investment in the first half of 2021, which has surpassed last year’s numbers.
Datuk Joachim Gunsalam (Kundasang-Bersatu), in his winding-up speech at the state assembly yesterday, said Sabah secured RM4.3 billion in investments in the manufacturing sector, making Sabah the state with the third highest investment value in Malaysia after Kedah and Selangor to date this year.
Joachim, who is also state industrial development minister, said foreign investments in Sabah have increased compared with last year, with 15 companies approved by the Malaysian Investment Development Authority (Mida). However, the highest investment was only at RM11.48 million.
“For the first half of this year, our foreign investment value is already significantly higher than the value recorded last year. This does not include potential investors from China and South Korea, which is estimated to be worth RM3.62 billion in total,” he said.
The biggest foreign investment contributor this year is a South Korean company that has put in RM4.2 billion in copper foil manufacturing at the Kota Kinabalu Industrial Park earlier this year.
He said despite trying times due to the pandemic, the ministry successfully attracted SK Nexilis Malaysia Sdn Bhd to invest in Sabah to produce copper foil product for batteries used in electric cars.
“The factory, which began construction earlier this month on a 40ha plot of land, is expected to begin operating in September 2023. We estimate more than 3,000 jobs to be created during its construction, and more than 400 job opportunities when the factory begins operations,” he said.
He cited another investor, Singaporean company Asia Oil Products Sdn Bhd, which is investing RM15 million in palm oil products in Lahad Datu.
“These companies have been approved by Mida. Domestic investments are also recorded at RM62.2 million to date this year. All these projects will create 518 jobs for locals.”
Joachim said his ministry will continue to be aggressive in attracting foreign and domestic investment in the manufacturing sector for Sabah. – The Vibes, September 24, 2021
