He cited a US$3 billion (RM13.4 billion) investment in a steel project by firms in China at the Samalaju Industrial Park as proof of this.

Two China firms – Hebai Xinwuan Steel Group and MCC Overseas Limited – signed a memorandum of understanding (MoU) for the project here in December.

The MoU was signed in conjunction with a visit by a delegation from the Handan municipal government in China.

“Investors, foreign and domestic, are still attracted to the state despite the uncertainties in the world economy due to our political stability and business-friendly policy,” The Borneo Post quoted him as saying.

Awang Tengah was speaking to reporters yesterday after officiating the 2017 Lean Management seminar at the Borneo Convention Centre Kuching.

Lean refers to methods and principles which help to identify and reduce waste or non-value added activities in organisations and firms.

The Borneo Post quoted him as telling seminar participants that a World Bank report had ranked Malaysia 23rd on its business-friendly nations index and that, according to another report, Malaysia was among the 20 top countries with a high level of competitiveness.

He said this showed that the government’s Economic Transformation Programme and Government Transformation Programme had produced results.

More than 200 people from government departments and agencies took part in the one-day seminar, The Borneo Post reported.