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Phoong welcomes U.S. companies to invest in Sabah

Phoong (left) in a discussion with Kagan.

KOTA KINABALU: Sabah Industrial Development and Entrepreneurship Minister Datuk Phoong Jin Zhe extended a warm welcome to the United States (U.S.) Ambassador to Malaysia, Edgard Kagan during a meet at the Magellan Sutera Harbour here on Thursday.

Phoong emphasised that his Ministry is committed to attracting investment from U.S. companies to invest in Sabah, in line with the Sabah Government’s policy to remain open and proactive in exploring potential investments from around the world.

Phoong also highlighted Sabah’s steadfast commitment to maintaining and strengthening bilateral relations with the U.S.

He particularly invites investments from the U.S. in the information and technology sector in Sabah. He highlighted the various industrial investment opportunities available, including the development of a new industrial park powered by renewable energy to attract sustainable investments.

The Minister also noted that Sabah boasts one of the cleanest and greenest energy mixes, with the state being 90 per cent dependent on natural gas.

This aligns perfectly with the global ESG agenda, making Sabah an attractive destination for Western companies seeking eco-friendly investment opportunities.

Furthermore, the Ministry has implemented investor-friendly policies, including a one-stop centre and a dedicated task force to facilitate investments across the state, ensuring a seamless investment experience which will be expedited by the Sabah investment arm agency, Invest Sabah Berhad.

Phoong underscored the significance of the two major investments by Kibing Group and SK Nexilis, highlighting the Ministry’s serious commitment to promoting industrial investments in Sabah.

Acknowledging the need for improvements in Sabah’s basic infrastructure, he assured the U.S. Ambassador that the Sabah State Government is diligently working to enhance these areas.

In addition, Phoong proposed the creation of a forum between Sabah and U.S-based companies in Kuala Lumpur to further understand the wealth of opportunities Sabah has to offer.

He expressed his eagerness to collaborate with the American Malaysian Chamber of Commerce (AMCHAM) and the US-ASEAN Business Council, both of which he engaged with in May this year, to facilitate and support US investments in Sabah.

Phoong concluded by expressing his optimism for a prosperous future of collaboration between Sabah and the U.S.

He looks forward to welcoming more of the U.S. companies to explore the abundant opportunities in Sabah, fostering mutual growth and development.

Invest Sabah Berhad Deputy Chairman George Wong was also present.

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