Kota Kinabalu: Sabah ranked fifth in investment in the Malaysian manufacturing sector during the second quarter of this year, according to Datuk Phoong Jin Zhe.
The State Minister of Industrial Development and Entrepreneurs (Mide) said Sabah received an investment value of RM9 billion, compared to last year’s RM11.5 billion, placing it seventh.
He said recently Mide received several investment proposals involving downstream industries such as biomass manufacturing, seafood processing, green industry, fertiliser, logistics, and oil and gas.
”I hope that these investor interests would be implemented in 2024,” said Phoong during the Sabah Industry Excellence Award (Akis) presentation ceremony at a hotel.
Phoong’s speech was delivered by his assistant, Datuk Andi Muhammad Suryady Bandy.
He said the industrial sector’s growth is expected to accelerate with the signing of a lease agreement between Syarikat Curix Sdn Bhd from South Korea and the Kota Kinabalu Industrial Park (KKIP) on Oct 16, 2023.
”The company is set to invest RM300 million in copper granulation production, providing job opportunities for the people of Sabah,” said Phoong.
Regarding Akis, Phoong highlighted its aim to recognise industry players’ contributions, held biennially with awards in six categories based on annual sales ranging from less than RM1 million to over RM50 million.
A total of 23 companies participated in the competition.
Additionally, Phoong said that 50 entrepreneurs have been selected for this year’s Transformation of Sabah Entrepreneurs (Trus-Mide) programme.
”The programme’s primary goal is to help small and medium industry entrepreneurs enhance packaging quality and provide education in entrepreneurship for domestic market competition, such as in supermarkets,” said Phoong.
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