MITI TO ENSURE EQUAL INVESTMENTS IN PENINSULAR, SABAH AND SARAWAK

KUALA LUMPUR, Oct 23 (Bernama) -- The Ministry of International Trade and Industry (MITI) has reaffirmed its commitment to ensure foreign investments are equally divided between Peninsular Malaysia, Sabah and Sarawak.

Minister Darrell Leiking said the ministry had ensured the equal division of potential investments brought in by the Pakatan Harapan government to all three said regions.

“We have a company with a potentially big investment in Sabah. However, we also need to negotiate with Sabah Electricity Sdn Bhd to obtain the best tariff rate to attract it to the state,” he told the Dewan Rakyat in response to a question from Chan Foong Hin (DAP-Kota Kinabalu) here today.

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Leiking said a lot of investors have committed to making investments in Peninsular Malaysia.

“Following our recent (trade) missions, there are several companies who will be investing in Peninsular Malaysia in the petrochemical, electrical and electronics and pharmaceutical sectors. Many of these first time investors are among the largest companies in the world,” he said.

Leiking said the ministry would be continuing with trade and investment missions next year, focusing on major trading and strategic partners such as ASEAN, the United States and China.

He said the trade and investment missions to Japan and South Korea from Oct 14-21, had generated potential investments of RM2.84 billion from both counties.

“From South Korea, there are potential investments of RM711.4 million, mainly from the chemical, electrical and electronics and household equipment sectors. Up to RM1.0 billion in potential sales were also generated through business meetings.

“In Japan, we have successfully attracted RM2.13 billion in potential investments from the petrochemical, logistics, medical equipment, electrical and electronics, household equipment and furniture sectors,” Leiking added.

-- BERNAMA