Miti: Govt confident Sabah, Sarawak can attract quality investments through downstream industries and strategic industrial parks

KUALA LUMPUR, July 3 — The government is confident that Sabah and Sarawak will continue to be competitive investment destinations through the development of natural resource-based downstream industries, the strengthening of strategic industrial areas, and increased participation of micro, small and medium enterprises (MSMEs) in the supply chain.

The Ministry of Investment, Trade and Industry (Miti) said this would simultaneously create more quality job opportunities, retain local talent in rural and remote areas, and contribute to more balanced and inclusive economic development.

“Miti, through its agency the Malaysian Investment Development Authority (MIDA), remains committed to attracting high-quality foreign and domestic investments to Sabah and Sarawak, particularly in natural resource-based industries,” it said in a written reply to the Dewan Rakyat today.

The ministry was replying to a question from Edwin Banta (GPS-Selangau), who sought to understand Miti’s strategies for encouraging foreign direct investment (FDI) and domestic direct investment (DDI) in natural resource-based industries within rural and remote areas — particularly in Sarawak and Sabah — to create high-income job opportunities and reduce youth migration to urban centres.

Miti said various initiatives have been and are being implemented, including encouraging investments in downstream activities based on local resources such as oil and gas, basic metal products, petrochemicals, food processing, wood products, downstream palm oil products, biomass, and renewable energy.

In Sabah, areas such as the Sipitang Oil and Gas Industrial Park (SOGIP), the Palm Oil Industrial Cluster (POIC) Lahad Datu, and POIC Sandakan continue to be strengthened to support the development of downstream industries based on oil and gas as well as local commodities.

Meanwhile, in Sarawak, the development of the Samalaju Industrial Park and the Sarawak Corridor of Renewable Energy (SCORE) continues to serve as a catalyst for investment in the metals, advanced materials, energy, and petrochemical industries. — Bernama