Chan: Sarawak not facing outflow of investment funds

  • Nation
  • Friday, 27 Oct 2006

MIRI: Sarawak is not experiencing any outflow of investment funds overseas, said Deputy Chief Minister Tan Sri Dr George Chan Hong Nam. 

On the contrary, major investors from China and Taiwan have expressed interest in investing big in the food and timber industries in the state, he said. 

He said former prime minister Tun Dr Mahathir Mohamad’s claim that the economy was bad and the many local businessmen had been leaving the country to do business overseas did not apply to Sarawak. 

“As far as the state government is concerned, there has been no obvious trend of local business investors leaving the state. There is no outflow of investment funds from Sarawak,” he said. 

“Our business sector is doing well generally. The prices of our goods are stable. Our manufacturing sector is still strong. Our food and timber-related industries are doing well.”  

Dr Mahathir made the claims during his recent meeting with Prime Minister Datuk Seri Abdullah Ahmad Badawi. 

Dr Chan, who was making Deepavali and Hari Raya visits, said the investment climate in Sarawak was still good and that growth was still positive despite investments and businesses not having increased sharply over the past nine months. 

He said the people of Sarawak still enjoyed steady progress and were content with the social and economic situation. 

“As can be seen during the current festive seasons, the people in Sarawak are enjoying the prosperity found in the state,” he noted.  

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