Sarawak attracted over RM23bil in investments despite pandemic

KUCHING: Sarawak managed to attract investments totalling RM23.17bil for 117 projects in the last two years despite the challenging economic situation globally due to Covid-19.

Deputy Premier Datuk Amar Awang Tengah Ali Hasan said investments worth RM16.08bil were approved in 2020 and RM7.09bil in 2021.

"These investments are expected to create more than 11,000 employment opportunities," he told the state legislative assembly in his winding-up speech on Thursday (May 26).

Awang Tengah said major projects approved under the Industrial Coordination Act in the last two years included high-grade steel worth RM13.8bil, chip capacitors- (RM4.2bil) and polycrystalline silicon and industrial gas (RM1.4bil).

Projects approved under the state's industrial coordination committee (ICC) were renewable energy products (RM250mil), copper foil, building materials and furniture (RM938mil), logistics and warehousing (RM93mil) and pre-cast concrete (RM86mil).

The state ICC also approved 16 projects worth RM75mil this year in beverage products, services, wood and wood-based products and basic metal products.

"These investments are expected to create more than 2,100 employment opportunities in the state," Awang Tengah said.

In addition, he said the state had approved two new expansion projects worth RM2.1bil in the Sama Jaya Free Industrial Zone here for electric and electrical products.

"These companies have already commenced their construction works," he said.

Awang Tengah also said Sarawak continued to receive interest from foreign investors keen to explore opportunities in the state.

He said the state's International Trade and Investment Ministry, which he helms, had conducted in-person meetings with potential investors from Singapore, China, Australia and South Korea for various projects since the reopening of international borders.

These include a proposed metal project from Singapore worth a potential US$7.13bil (RM31.4bil), an integrated oil refinery project from China (US$5.2bil/RM22.9bil), a green energy project from Australia (US$1.2bil/RM5.3bil) and a chemical project from South Korea with proposed investment of RM709mil.

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