With a a total domestic and foreign capital investment value of RM5,034 million, Sabah Sabah ranked third last year in projects approved by Malaysia Investment Development Authority (Mida). Top on the list is Johor (RM5,535 million) followed by Selangor (RM11,734 million).
The matter was disclosed by Minister of Industrial Development, Datuk Raymond Tan Shu Kiah; adding that Sabah's standing as one of the top states in terms of attracting foreign direct investments (FDI) was due to regional dynamics, a visionary government, stable politics and sustained support of the Federal Government.
He further elaborated that this level of investment is sustainable due to the tremendous untapped opportunities in the palm oil and oil and gas sectors alone. The palm oil sector is estimated to be a RM100 billion industry with many frontier industries such as bio-refineries/sugars and biomass yet to be ventured into. He pointed out that the four years of joint State-Federal effort since the last general election has borne fruits, most spectacularly in tackling the thorny issue of poverty.
Based on the data that was provided by the Federal Economic Planning Unit, poverty rate in Sabah, he said, declined from 19.7 per cent in 2009 to just 8.1 per cent in 2012. (Read HERE)
More significantly, he said, the mean household income in Sabah increased by 29.4 per cent to RM4,013 last year from RM3,102 in 2009, representing an average growth rate of 8.6 per cent per annum.
Details on this article can be read in Daily Express Online. Click HERE
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