KOTA KINABALU: Three memoranda on high impact investment in agriculture, industrial and tourism will be signed soon in Sabah as the state goes into recovery mode from the Covid-19 pandemic, says Chief Minister Datuk Seri Hajiji Noor.

       He said the state was certain these new investments, including an innovative solar glass manufacturing and a large-scale herb plantation, would get good returns while creating jobs.

       “We look forward to partnering with more investors who are serious about doing business with us,” he said in his keynote address at the Sabah International Business and Economic Summit.

       Hajiji assured investors the state would facilitate the implementation of these projects.

       Meanwhile, he said the state was inviting foreign and local investors to explore the vast business opportunities in the state.

       “Sabah is open for business. We call on start-ups, entrepreneurs, businesses and investors to have a closer look at Sabah and see what we have to offer,” he said.

       Earlier in his speech, Hajiji noted that Sabah was once an industrial powerhouse in the 1980s and among its biggest sub-sectors were mining and quarrying, construction and services.

       “Overall, the industrial sector contributes to 8% of Sabah’s gross domestic product but this figure does not reflect the sector’s true potential and Sabah aims to reclaim the top spot.”

       Due to the size of the state and population, he said Sabah was the sixth largest contributor to the Malaysian economy.

       “Sabah contributes 5.8% to the GDP and has made significant milestones in its economic development since forming Malaysia in 1963,” he said.

       “Sabah is one of the biggest producers of petroleum, rubber and cocoa in Malaysia but its economy is also highly diversified, with the state now putting more emphasis on connectivity, technology and agriculture.

       “The state government is fully invested in enhancing infrastructure, nurturing entrepreneurship, boosting investment and increasing competitiveness by leveraging advances in the Fourth Industrial Revolution,” he said.

       The two-day summit, which started yesterday, is themed “Unlocking Sabah’s Potential, Unleashing Business Opportunities”.