Sarawak secured investments worth RM10.43b across 212 projects in 3Q2024, expects to create 5,400 jobs — state minister

Sarawak secured investments worth RM10.43b across 212 projects in 3Q2024, expects to create 5,400 jobs — state minister

20 Nov 2024

Sarawak has recorded approved investments totalling RM10.43 billion across 212 projects for the third quarter of this year (3Q2024), which are expected to create about 5,400 new job opportunities, the Sarawak State Assembly was told on Wednesday.

Sarawak Minister of International Trade, Industry and Investment, Datuk Amar Awang Tengah Ali Hasan, said domestic direct investments (DDIs), which included reinvestments by existing foreign investors, utilising domestic funding, amounted to RM7.18 billion, while foreign direct investments (FDIs) contributed RM3.25 billion.

“The manufacturing sector was the largest contributor at 55.7%, attracting investments worth RM5.81 billion, followed by the services sector at 28.5% or RM2.97 billion, and the primary sector at 15.8% or RM1.65 billion. 

“These manufacturing projects were mainly in chemical and chemical products, totalling RM2 billion (urea, melamine and fertiliser); electrical and electronic products (solar ingots, wafer, cell and module), amounting to RM1.2 billion; and non-metallic mineral products (cement and clinker), totalling RM0.8 billion,” he said in his winding-up speech for his ministry here.

Awang Tengah, who is also Sarawak deputy premier, said the state continued to attract and facilitate investors in high-tech industries, including electronics, sustainable fuels, renewable energy and composite materials.

He said the amendment to the Electricity Ordinance last year had created more opportunities for investors to be involved in low-carbon power generation.

“For example, a recently signed joint-study agreement between Sarawak and an investor from Abu Dhabi will explore the floating solar power project’s potential in Murum.

“This project will further transform Sarawak’s energy landscape towards more renewable resources, spurring industrial advancement, as well as attracting green and sustainable investments,” he added.

Source: Bernama