MARKET DEVELOPMENT
Sabah Receives Investments Worth RM5.83 Billion Last Year
Sabah Receives Investments Worth RM5.83 Billion Last Year
21/06/2013 (Bernama) - Sabah received and approved 48 manufacturing projects involving investments worth RM5.83 billion last year.
Deputy Chief Minister Datuk Raymond Tan Shu Kiah said the investments represented a growth of 373 per cent compared with 54 projects valued at RM1.56 billion in 2011.
"Out of the RM5.83 billion, a total of RM5.55 billion comprised local investments, RM11 million were foreign investments while RM268 million were from from various sources," he said in his winding up speech for the Industrial Development Ministry at the State Legislative Assembly here Thursday.
Meanwhile, Tan, who is also the state Industrial Development Minister, said some 3,060 job opportunities would be created through these investments.
He said the bulk of foreign investments last year were from Thailand for the construction of factories to produce frozen seafood, bio-chemical fertilisers (US), and Switzerland as well as Russia to manufacture wood-based and bamboo furniture.
"There were some investments from China, to build plant to process used tyres; Singapore, to process canned seafood, meat and fruits; and South Korea," he said.
In another development, he said the discovery of new oil and gas exploration areas offshore Sabah promised huge potential to the development of downstream activities in the oil and gas sector in the state.
"The construction of the Sabah Oil and Gas Terminal (SOGT) in Kimanis, gas pipeline from Kimanis to Bintulu as well as the development of the Oil and Gas Industrial Park in Sipitang are the major part of projects to lead the oil and gas industrialisation era.
"The oil and gas sector will generate investments worth over RM30 billion till 2020. My ministry will work hard to develop this sector more rapidly including in attracting investments," he said.
On job opportunities in the Palm Oil Industrial Cluster (POIC) Lahad Datu, he said the industry would not only offer semi-skilled jobs but also create quality, professional and high-income jobs.
"All 42 companies present at POIC Lahad Datu when fully operational will create 2,345 job opportunities at various levels.
To date, a total of 308 jobs had been created directly by 15 companies which had completed the construction of their factories in the cluster.
Out of the total, 60 per cent comprised Bumiputeras," he said.
Deputy Chief Minister Datuk Raymond Tan Shu Kiah said the investments represented a growth of 373 per cent compared with 54 projects valued at RM1.56 billion in 2011.
"Out of the RM5.83 billion, a total of RM5.55 billion comprised local investments, RM11 million were foreign investments while RM268 million were from from various sources," he said in his winding up speech for the Industrial Development Ministry at the State Legislative Assembly here Thursday.
Meanwhile, Tan, who is also the state Industrial Development Minister, said some 3,060 job opportunities would be created through these investments.
He said the bulk of foreign investments last year were from Thailand for the construction of factories to produce frozen seafood, bio-chemical fertilisers (US), and Switzerland as well as Russia to manufacture wood-based and bamboo furniture.
"There were some investments from China, to build plant to process used tyres; Singapore, to process canned seafood, meat and fruits; and South Korea," he said.
In another development, he said the discovery of new oil and gas exploration areas offshore Sabah promised huge potential to the development of downstream activities in the oil and gas sector in the state.
"The construction of the Sabah Oil and Gas Terminal (SOGT) in Kimanis, gas pipeline from Kimanis to Bintulu as well as the development of the Oil and Gas Industrial Park in Sipitang are the major part of projects to lead the oil and gas industrialisation era.
"The oil and gas sector will generate investments worth over RM30 billion till 2020. My ministry will work hard to develop this sector more rapidly including in attracting investments," he said.
On job opportunities in the Palm Oil Industrial Cluster (POIC) Lahad Datu, he said the industry would not only offer semi-skilled jobs but also create quality, professional and high-income jobs.
"All 42 companies present at POIC Lahad Datu when fully operational will create 2,345 job opportunities at various levels.
To date, a total of 308 jobs had been created directly by 15 companies which had completed the construction of their factories in the cluster.
Out of the total, 60 per cent comprised Bumiputeras," he said.