RM400m investments in Sabah approved

Pic By TMR File

The Malaysian Investment Development Authority (Mida) approved more than RM400 million in investments in Sabah’s hotel, tourism and manufacturing sectors in the first half of 2017, said ED of strategic planning Zabidi Mahbar.

According to him, a comprehensive ecosystem attracted investors to Sabah.

“The government will continue efforts to support foreign investors in conducting their business in the country,” he said at the Domestic Investment Seminar 2017 in Kota Kinabalu yesterday.

Zabidi said completion of the 2,083km Pan Borneo Highway would also accelerate socio-economic growth in Sabah and Sarawak.

“The highway will be the transportation backbone of Sabah and Sarawak, while opening up the economic corridor can then attract even more investors to the two states — especially in the oil and gas, manufacturing, tourism and agriculture sectors,” he added.

Meanwhile, Zabidi said the government was undertaking various efforts at assisting industry players towards the fourth industrial revolution (Industry 4.0) through automation and smart manufacturing.

He said the International Trade and Industry Ministry and Mida had come up with various strategies and conducted studies relevant to Industry 4.0.

“The document is expected to be completed by the first quarter of 2018,” he said. Zabidi added that as part of the government’s commitment to accelerating the growth of Industry 4.0 in Malaysia, various new incentive packages had been introduced under Budget 2018, including an allocation of RM245 million in matching grants under the Domestic Investment Strategic Fund to upgrade smart manufacturing facilities.