Sabah ranks third nationally as RM10.9b in Q1 investments exceed full-year 2024 figure
KOTA KINABALU, June 14 — Sabah recorded a total of RM10.9 billion in approved investments in the first quarter of this year, surpassing the state's total investment figure for the entire year of 2024.
According to the Malaysian Investment Development Authority (MIDA), the investment performance from January to March places Sabah third nationally, behind Selangor and Kuala Lumpur.
State Industrial Development and Entrepreneurship Minister Datuk Phoong Jin Zhe said Foreign Direct Investment (FDI) was the main contributor, accounting for RM6.6 billion or 61 percent of the total, while Domestic Direct Investment (DDI) amounted to RM4.29 billion or 39 percent.
The manufacturing sector was the top performer, recording RM7.3 billion in investments — the highest among all states for this quarter. Of this, RM6.59 billion or 91.3 percent came from foreign investors, with the remaining RM711 million or 9.7 percent from domestic sources.
The services sector followed with RM2.83 billion, while the primary sector attracted RM757.1 million.
Phoong said the figures reflected continued investor confidence in Sabah's economic growth potential and its conducive business ecosystem.
'Despite global economic uncertainties and geopolitical pressures, Sabah remains a competitive investment destination trusted by both foreign and domestic investors,' he said at a press conference at Wisma Kewangan today.
He added that the success was due to investor-friendly policies and the state government's strong commitment to stimulating industrial development.
'The state government is committed to strengthening the investment ecosystem and welcoming more investors to achieve sustainable and inclusive economic development for Sabah,' he said. — The Borneo Post
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