Right time for foreign investment RM7b | Daily Express Online
Posted onAuthorJames R. DayComments Off on Right time for foreign investment RM7b | Daily Express Online
Right time for foreign investment of RM7b
Published on: Monday August 29th, 2022
Dr. Adel presents a souvenir to Hajiji while others watch during dinner.
SABAH recorded about RM5.1 billion in foreign investment from January to August this year and is expected to surpass the RM7 billion mark when a high-impact investment project worth RM2 billion , currently underway, is taken into account, Chief Minister Datuk Seri said. Hajiji Nour. He said this also ranks Sabah as the third largest recipient of foreign investment in Malaysia. “We are building on this momentum and are confident that Sabah is and will be an attractive destination for investment.
“I have emphasized from the beginning that we want to be investor-friendly and that we will remove all obstacles to facilitate all investments,” he said at a dinner organized on the occasion of the visit of the Council. Arab ambassadors to Sabah at the Sabah International Convention Center (SICC) in Kota Kinabalu on August 19. Attending the dinner were Yemen’s Ambassador to Malaysia, who is also the Dean of the Arab Diplomatic Corps in Malaysia, Dr Adel Mohamed Ali Ba Hamid, UAE Ambassador to Malaysia Khalid AlGhaith, Saudi Ambassador Saudi Arabia to Malaysia Mahmoud Hussein Saeed Qattan and Jordanian Ambassador to Malaysia Thamer Abdalla Mohammad Adwan. Also present were Palestinian Ambassador to Malaysia Walid Abu Ali, Qatari Ambassador to Malaysia Fahad Yousef Kafoud, Libyan Ambassador to Malaysia Mohamed AM Attia and Charge d’Affaires of Sudan to Malaysia Omer Mahgoub Ahmed Oushek. Hajiji, who is also the state’s finance minister, said he was very confident that Sabah’s economy would grow in tandem with the Malaysian economy which, according to the Ministry of Finance’s 2022 economic report, is expected to strengthen between 5.5% and 6.5%. hundred. He said Malaysia’s trade with several Arab countries has been good such as the total trade with Qatar which increased by 130.2% to RM2.87 billion for the period January-August this year. , up from RM1.25 billion for the same period last year. .
Similarly, Malaysia’s total trade with Saudi Arabia increased by 116.7% to RM16.98 billion in the January-August period this year from RM7.84 billion in the same period. last year. “Malaysia enjoys good bilateral relations with your countries and this is especially true in the areas of trade and investment. “Other no less important areas are cultural, technical and educational relations,” he said. Meanwhile, Hajiji said Malaysia set a record RM26.7 billion in foreign direct investment (FDI) in the fourth quarter of last year, followed by RM23.3 billion in the first quarter of 2022 and RM24.1 billion in the second quarter of 2022, bringing total FDI inflows for the nine-month period to RM74.1 billion, exceeding total FDI in 2021, 2020, 2019 and 2018 . * Follow us on Instagram and join our Telegram and/or WhatsApp channels for the latest news you don’t want to miss.
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