Sabah Records Investments Totalling RM35.38 Bln From 2021-2024
KOTA KINABALU, July 8 (Bernama) -- Sabah has received a total of RM35.38 billion in investments, involving 420 projects between 2021 and 2024, the Sabah State Legislative Assembly was told today.
Assistant Minister to the Chief Minister, Datuk Nizam Abu Bakar Titingan, said the total comprises RM20.61 billion in domestic investments and RM14.77 billion in foreign investments.
At the same time, the state also saw 52 realised investments amounting to RM17.42 billion.
“In the first quarter of this year (1Q 2025) alone, Sabah recorded RM10.9 billion in approved investments, which reflects investors’ continued confidence in the nation’s economic potential,” he said.
He said this in response to a question from Datuk Abdul Ghani Mohamed Yassin (GRS-Nabawan) regarding the state’s performance in terms of economic growth, human capital and the people’s well-being under the Sabah Maju Jaya (SMJ) Development Plan 1.0.
Nizam said that in 2024, domestic investment amounted to RM5.37 billion, surpassing foreign investments of RM1.08 billion, while in 2023, domestic investment had reached RM11.21 billion, far outperforming foreign investments which stood at RM130 million.
“Foreign investments have largely focused on specialised sectors such as copper foil manufacturing, solar panels, oil and gas, and steel, while domestic investments span a wider range of industries,” he said.
He noted that Sabah has made notable progress in attracting investments under the current state administration, demonstrating strong investor confidence in the state’s economy.
To support this growth, the state government plans to establish three new industrial parks: the Blue Economy Industrial Park in Kudat, an Integrated Industrial Park in the Kota Belud/Kota Marudu area, and another Integrated Industrial Park in Beaufort, Kimanis.
“Sabah’s trade performance remains strong, registering RM107.8 billion in total trade last year, exceeding the RM100 billion level for the third consecutive year since 2022,” he said.
Nizam also highlighted the positive contribution from the state’s tourism sector, with Sabah welcoming 7.85 million visitors between 2021 and 2024, comprising 5.44 million domestic and 2.4 million international tourists.
“For the period from January to May 2025 alone, Sabah recorded 1.4 million tourist arrivals (domestic: 848,420; international: 559,150), demonstrating continued growth in the state's tourism industry,” he said.
He also reported that as of May this year, the overall implementation rate of the SMJ Development Plan 1.0 (2021–2025) had reached 94 per cent, encompassing 467 initiatives.
“This includes 366 initiatives that have achieved 100 per cent completion,” he said.
-- BERNAMA
