Sabah hopes to see more high-impact investment from China and developed countries

Sabah hopes to see more high-impact investment from China and developed countries

05 Dec 2023

Sabah is hoping for more high-impact investors from China and other developed countries, said state Deputy Chief Minister Datuk Seri Dr Jeffrey Kitingan.

“These investors are crucial for Sabah’s economic growth and sustainable development.

“We are dedicated to making Sabah an appealing destination for investment. Our focus is on facilitating rapid economic growth and ensuring sustainable development in the state,” he said during the High Quality One Belt One Road Cooperation forum at Sabah International Convention Centre here.

Jeffrey said with this at opening of the multi-billion Sabah Kibing Solar New Materials (M) Sdn Bhd facility, boasting an annual production capacity of 440,000 tons of solar glass.

Such an investment, he added, positions Sabah as a key player in Malaysia’s solar glass manufacturing industry.

“The facility is also a major contributor to the renewable energy sector, creating jobs for 1,300 people, with over 80 per cent of the workforce being Sabahan residents.

“This development is a testament to China’s advanced technology, not just in manufacturing but also in building and infrastructure.”

Apart from that, he also said Chinese construction companies, which used their skills and expertise, have contributed to many modern and green high-rise buildings in Sabah.

Among them include the Sabah International Convention Centre (SICC), the tallest building on Borneo Island which is the 56- storey Jesselton Twin Tower, and Coral Bay, a 460-unit luxury condominium within Sutera Harbour Resort among others.

“These projects highlight China’s significant contribution to Sabah’s architectural landscape.”

As for the forum, Jeffrey said it focused on promoting Sabah’s involvement in co-building and contributing to the development of a China-Malaysia community of shared destiny.

“Sabah’s strategic location along the China Maritime Silk Road route offers numerous advantages. These include its rich natural resources, favourable climate, and the multilingual skills of its people.

“By skilfully leveraging these advantages, Sabah is poised to become a vital logistics hub and a key player in the China Maritime Silk Road route. This will contribute to the growth of both ASEAN and the BIMP-EAGA region.”

Source: NST