MIRI: Sarawak has emerged as the second most attractive state in the country for foreign investors keen on the manufacturing sector, following closely behind Selangor.
International Trade and Industry Minister Datuk Seri Mustapa Mohamad said he was impressed by the fact that Sarawak had risen from number three two years ago.
Speaking during a briefing with officials of the Sarawak Corridor of Renewable Energy (Score) in Bintulu town during the weekend, he said so far, RM25bil in foreign investments had been channelled to the Score belt (located between Samalaju Industrial Estate in Bintulu town to Mukah town),
“The investments came from 17 major companies, among them Press Metal, Samalaju Port and Tokuyama. They have already set up their operations in Sarawak and we (his ministry) expect to see even more foreign investors coming to Sarawak and setting up new ventures this year,” he said.
“This shows that Sarawak is experiencing outstanding growth, especially in the manufacturing sectors. The Federal Government will continue to support and encourage more growth for Sarawak.
Mustapa said RM2.5bil had been invested to develop the facilities in the Score.
“The state government had also pumped in a lot of financial resources into this development corridor and the efforts by both the state and federal authorities are showing good results,” he said.
During his visit, Mustapha also met with leaders from various business associations to discuss issues of mutual interest regarding the latest economic climate in the country.
He stressed that his ministry had also approved RM9.64bil in new investments for various manufacturing sectors in Sarawak last year.
Among the top sectors that foreign investors had placed their financial commitments in Sarawak are chemical and chemical-downstream sectors (RM5.2bil), metal products (RM3.8bil), petroleum and petrochemicals products (RM435mil), wood and wood products (RM55mil), fabricated metals (RM23mil) and others.
Mustapa said the Federal Government would continue to promote Sarawak as a key state for investors to help this state achieve developed status as soon as possible.