Deputy premier: Sarawak has potential to be regional powerhouse for sustainable industries

10 Nov 2023

Deputy Premier Datuk Awang Tengah Ali Hasan today said he believes that Sarawak has the potential to lead in environmental, social and governance (ESG) adoption and be a regional powerhouse for sustainable industries.

He said this is evident by the state government’s numerous initiatives, such as green hydrogen, sustainable aviation fuels, and renewable feedstocks cultivation, which lead the way for the state to become an important global value chain.

“We also aim to be a regional leader in innovation and high technology-based economy,” he said at the launch of the climate inclusive financing and development programme here.

Awang Tengah, who is also the state minister of international trade, industry and investment, said the state welcomes investments and collaborations, particularly in priority areas such as manufacturing, commercial agriculture, tourism, forestry, mining and services that can create mutual benefits for all.

“Up until September this year, the Sarawak government has approved RM11.3 billion worth of investments in the manufacturing sector.

“This is credited to business-friendly policy adopted by the Sarawak government who has always been very supportive of investments either foreign direct investment (FDI) and domestic direct investment (DDI),” he said.

Awang Tengah, who is also the state minister of natural resources and urban development, later witnessed the signing of Memorandum of Understanding (MoU) to extend RM1 billion in green financing for Sarawakian small-medium enterprises (SMEs) in sustainable-trade readiness and business resiliency towards ESG compliance.

The MoU was signed between InvestSarawak and Alliance Bank Malaysia Berhad and the UN Global Compact Network Malaysia and Brunei.

InvestSarawak is a one-stop agency under the state Ministry of International Trade, Industry and Investment for all investments and trades in the state.

Source: Malay Mail