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The Sun
08-07-2025
- Business
- The Sun
Sabah attracts RM35.38 billion investments from 2021 to 2024
KOTA KINABALU: Sabah has secured RM35.38 billion in investments across 420 projects between 2021 and 2024, according to the state legislative assembly. Assistant Minister to the Chief Minister, Datuk Nizam Abu Bakar Titingan, revealed that domestic investments accounted for RM20.61 billion, while foreign investments totalled RM14.77 billion. Additionally, 52 projects worth RM17.42 billion have been realised. 'In the first quarter of 2025 alone, Sabah recorded RM10.9 billion in approved investments, reflecting strong investor confidence,' Nizam said during the assembly session. The breakdown shows RM5.37 billion in domestic investments and RM1.08 billion in foreign investments for 2024. In 2023, domestic investments surged to RM11.21 billion, far exceeding foreign investments of RM130 million. Foreign investments were concentrated in specialised sectors like copper foil manufacturing, solar panels, and oil and gas, while domestic investments covered a broader industrial spectrum. To sustain this growth, Sabah plans to establish three new industrial parks: the Blue Economy Industrial Park in Kudat, an Integrated Industrial Park in Kota Belud/Kota Marudu, and another in Beaufort, Kimanis. Trade performance remained robust, with RM107.8 billion recorded in 2024, marking the third consecutive year above RM100 billion since 2022. Tourism also thrived, with 7.85 million visitors from 2021 to 2024, including 5.44 million domestic and 2.4 million international tourists. From January to May 2025, arrivals reached 1.4 million (848,420 domestic, 559,150 international). Under the Sabah Maju Jaya (SMJ) Development Plan 1.0, 94% of 467 initiatives have been implemented, with 366 fully completed as of May 2025.
Daily Express
08-07-2025
- Business
- Daily Express
Sabah attracts RM35.38 billion in investments under SMJ Plan
Published on: Tuesday, July 08, 2025 Published on: Tue, Jul 08, 2025 By: Ricardo Unto Text Size: KOTA KINABALU: Sabah secured RM35.38 billion in total investments from 2021 to 2024 under the SMJ 1.0 plan, covering 420 approved projects, said Assistant Minister to the Chief Minister Datuk Nizam Abu Bakar Titingan. Of this, RM17.42 billion has been realised, while RM10.9 billion was approved in Q1 2025 alone. Domestic investments (RM20.61 billion) outpaced foreign (RM14.77 billion), especially in 2023 and 2024. Foreign investors focused on copper foil, solar, oil and gas, and steel, while domestic investors spanned broader sectors. To drive future growth, Sabah plans three new industrial parks in Kudat, Kota Belud/Kota Marudu, and Beaufort/Kimanis. * Read full report in tomorrow's print paper or log in or sign up for e-paper and premium online news access. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
