KOTA SAMARAHAN: Sarawak's foreign direct investment is not expected to be badly impacted by the ongoing tensions in Middle East, says Deputy Premier Datuk Awang Tengah Ali Hasan.
He said many investors came from countries which were not directly affected by the geopolitical situation, while those from the Middle East had already made commitments to invest.
"Most of the investors in renewable energy, mainly solar energy, come from China. In fact, some of them were here in the last few months for follow-up action.
"We also have some investors from the Middle East, such as Abu Dhabi. We will see how it goes but their commitment to invest is there," he told reporters after attending SMD Semiconductor Sdn Bhd's Raya open house here on Monday (March 30).
Awang Tengah said Sarawak recorded RM16bil worth of foreign and domestic investments in the primary and manufacturing sectors last year.
He said approved investments over the last five years totalled RM116bil, many of which had been fully realised, while others were in progress.
In view of the conflict, he said Sarawak would continue to focus on its strategic advantage in renewable energy to attract investors.
"We have developed renewable energy in Sarawak, including hydropower. This is our advantage and we will continue to promote it.
"Several hi-tech companies are interested because of our renewable energy.
"We are also strategically located and our ecosystem is conducive for investors," he said.
He added that Sarawak would also focus attracting investments from Far East countries like China, Japan and South Korea.
