5 days ago
Sabah records RM35.4 billion investments under SMJ 1.0 development plan
Published on: Wednesday, July 09, 2025
Published on: Wed, Jul 09, 2025
By: Ricardo Unto Text Size: Nizam noted that domestic investments exceeded foreign investments in both 2023 and 2024, with RM11.21 billion and RM5.37 billion recorded, respectively. Kota Kinabalu: Sabah recorded RM35.38 billion in total investments between 2021 and 2024 under the Sabah Maju Jaya (SMJ) 1.0 development plan, with 420 approved projects comprising both domestic and foreign investments. Assistant Minister to the Chief Minister, Datuk Nizam Abu Bakar Titingan, said the State saw the realisation of 52 investments worth RM17.42 billion during that period. He told the State Legislative Assembly on Tuesday that RM10.9 billion in investment was approved in the first quarter of this year alone. 'Of the RM35.38 billion total, RM20.61 billion came from domestic sources while RM14.77 billion was contributed by foreign investors,' he said in response to a question from Nabawan Assemblyman Datuk Abdul Ghani Mohamed Yassin. Nizam noted that domestic investments exceeded foreign investments in both 2023 and 2024, with RM11.21 billion and RM5.37 billion recorded, respectively. 'In 2023, foreign investments amounted to only RM130 million, while in 2024, they reached RM1.08 billion,' he said. He said foreign investments focused on specialised sectors such as copper foil manufacturing, solar panels, oil and gas, and steel production. 'In comparison, domestic investors were involved in a broader range of industries outside of those specialised sectors,' he added. Nizam said the State's success in attracting investors reflected growing confidence in Sabah's economy under the current administration. To sustain momentum, the State Government plans to establish three new industrial parks – the Blue Economy Industrial Park in Kudat, and two Integrated Industrial Parks in Kota Belud/Kota Marudu and Beaufort/Kimanis. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available.
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