Sabah snags third spot for approved investments in 1Q this year
The Industrial Development and Entrepreneurship Minister said the amount has already surpassed the total investment recorded for 2024, reflecting renewed confidence in Sabah's growth potential and economic direction.
'Sabah now ranks just behind Selangor and Kuala Lumpur in terms of total approved investments in Malaysia,' he said, citing the latest figures from the Malaysian Investment Development Authority.
Foreign direct investment was the main driver, contributing RM6.6bil or 61%, while domestic direct investment accounted for RM4.29bil or 39%.
He said this interest from both international and local players signals strong faith in Sabah's business ecosystem.
The manufacturing sector emerged as the largest contributor, drawing RM7.3bil in approved investments, which marked the highest in Malaysia for this quarter.
Of that amount, RM6.59bil (91.3%) came from foreign sources, while RM711mil (9.7%) originated from Malaysia.
The services sector followed with RM2.83bil, and the primary sector attracted RM757.1mil.
'These achievements show that Sabah is not just keeping pace, but emerging as a frontrunner in key sectors, supported by our investor-friendly environment and the state government's strong commitment to driving industrial development,' Phoong said.
Despite the ongoing global economic uncertainty and geopolitical challenges, Sabah remains a competitive, resilient and trusted destination for capital and enterprise, he added.
'The state government remains steadfast in its efforts to strengthen the investment ecosystem and continues to welcome both foreign and domestic investors to help realise our vision of a sustainable and inclusive economic future for Sabah,' he said.
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