Abang Johari: RM11.4 billion worth of investments in manufacturing sector approved this year
05 Dec 2023
Premier Tan Sri Abang Johari Openg today said the Sarawak government has approved RM11.4 billion worth of investment in the manufacturing sector in the first nine months of this year.
He said this is credited to the state’s business-friendly policy that has always been very supportive of investments of both foreign direct investment (FDI) and domestic direct investment (DDI).
“We welcome investments and collaborations, particularly in six priority sectors, namely manufacturing, commercial, agriculture, tourism, forestry, mining and services that can create mutual benefits for all,” he said in his speech at the signing of Memorandum of Understanding (MoU) between InvestSarawak Sdn Bhd, an agency under the state Ministry of International Trade, Industry and Investment, and Surbana Jurong Infrastructure Pte Ltd of Singapore.
The signing of the MoU was held at the Singapore Expo Pavilion in conjunction with the 2023 United Nations Climate Change Conference (COP28) in Dubai.
The text of the premier’s text of speech was released by the Premier of Sarawak’s Department.
The MoU covers areas of collaboration in industry transformation; energy transition and industrial decarbonisation; carbon capture, utilisation and storage decarbonisation; and industrial park development and management, in the hope of realising the development of low-carbon industries in Sarawak.
Abang Johari stressed that the state government’s commitment to sustainable development has gained attention from the world, saying that this is evident through favourable ratings by international rating agencies such as Standard and Poor’s and Moody’s Investor Services that concur with the state’s strategy to attract more quality investments on a big scale.
“Sarawak is now focusing on promoting low carbon solutions, green and circular economy,” he said, adding that the state also aims to be a regional leader in innovation and high technology-based economy.
“With Post-Covid-19 Development Strategy (PCDS 2030) in place, we are promoting economic prosperity, social inclusivity and environmental sustainability,” he said.
On the MoU, the premier said it is a natural progression following the completion of the Master Plan for the Development of Industrial Terminals in Sarawak that Surbana Jurong did for the state government.
Among those present at the signing of the MoU were Singapore’s Senior Minister and Coordination Minister for Security Teo Chee Hean and Sarawak’s Deputy Premier and Minister of International Trade, Industry and Investment Datuk Amar Awang Tengah Ali Hasan.
Source: Malay Mail
