KUCHING: Sarawak approved 12 domestic investment projects worth RM347.1mil in the first quarter of this year, mainly in services-related industries, says Datuk Awang Tengah Ali Hasan.
The Deputy Premier said several foreign investment projects in digital technology, renewable energy and logistics were undergoing preliminary assessments.
"Private investment remains a major driver of Sarawak’s economic growth. It supports industrial expansion, job creation, innovation and economic diversification," he told the Sarawak Legislative Assembly when winding up matters related to the state International Trade, Industry and Investment Ministry on Wednesday (May 20).
From 2021 to 2025, he said, Sarawak attracted RM116.8bil in approved investments across the manufacturing, services and primary sectors.
These investments are expected to generate approximately 28,190 jobs.
Awang Tengah also said Sarawak was strengthening its position as a regional renewable energy hub through green energy and hydrogen economy initiatives, with Bintulu as a transitioning industrial cluster and Kuching as a low-carbon hub.
He said Bintulu's recognition as a transitioning industrial cluster by the World Economic Forum would boost Sarawak's position as a strategic hub for sustainable industrial development.
"This recognition enhances global investor confidence and positions Bintulu to attract high-quality investments in green industries, clean energy and advanced manufacturing.
"It also supports industrial transformation through technology transfer, innovation, talent development and greater MSME (micro, small and medium enterprise) participation in global value chains," he said.
In addition, he said the Kuching low-carbon hub would be an integrated industrial ecosystem supported by critical infrastructure, including gas terminals and a deep sea port.
"This integrated approach will optimise resource value, attract ESG-driven investments and strengthen Sarawak’s competitiveness in the regional and global energy landscape," he said.
He added that strategic partnerships have been established with international companies to develop the hub, involving potential investments of up to RM30bil over the next decade.
