DEPUTY Premier Datuk Amar Awang Tengah Ali Hasan announced that several investors have solidified their investment intentions in Sarawak and submitted applications for consideration by the state government.
The proposed investments span various sectors, including electric vehicle (EV) components, urea and melamine production, and chemical projects, with notable investments from Hong Kong, China, Australia, and South Korea.
Among the submitted proposals are a RM6.3bil project for basic metal used in EV components from Hong Kong, a RM1.65bil urea and melamine project from China, a RM900mil basic metal for EV components project from Australia, and a RM709mil chemical project from South Korea.
The Minister for International Trade, Industry and Investment added that there are ongoing discussions with new investors for projects such as a RM5bil basic metal for solar PV project from China, a RM4.4bil green metal project from Japan, a RM3.04bil basic metal for EV components project from Australia, and a RM571mil chemical project from China.
“While these are testaments to the attractiveness of Sarawak as an investment destination, we must not lose sight of the fact that Sarawak is not only competing with neighbouring countries, but also with the other states in Malaysia for investments.
“Therefore, Sarawak must continue to leverage on its competitive advantages particularly on the availability of green renewable energy to stand out as an attractive investment destination,” he said in his ministerial winding-up speech at the Sarawak Legislative Assembly (DUN) sitting on today (May 24).
Awang Tengah also emphasised the confidence shown by existing investors, as many companies are reinvesting in Sarawak despite global uncertainties. He pointed out that this has generated positive multiplier effects to the state’s economy.
“For example, in Sama Jaya Free Industrial Zone, the high-tech industry is employing more than 15,000 employees where 98 per cent of them are locals, paying RM758mil in annual wages, contributing RM917mil to the local economy and exporting RM8.9bil of E&E products and components.
“Meanwhile, the Samalaju Industrial Park is designated for the energy intensive industry cluster. The contributions from this industrial park include employing 8,300 employees where 83 per cent of them are locals, paying RM532mil in annual wages, contributing RM5.4bil to the local economy and exporting RM18.4bil of basic metal products.”
Awang Tengah reiterated that the state welcomed both foreign direct investment (FDI) and domestic direct investment (DDI), with a focus on encouraging downstream and value-adding industries that aligned with the state’s long-term development goals.
