KUCHING: Sarawak’s domestic direct investments (DDI) and foreign direct investments (FDI) have registered a drastic increase, with more than RM11 billion recorded as of last September.
To this end, Deputy Premier Datuk Amar Awang Tengah Ali Hasan encouraged the micro, small, and medium enterprises (MSMEs) in Sarawak to capitalise on the opportunities arising from these investments.
Highlighting the influx of investments in high-tech industries like the Sama Jaya High Tech Park, he encouraged MSMEs to strategically tap into sectors such as food catering, logistics and accommodation.
“There has been a lot of investment in the high-tech industries such as in Sama Jaya High-Tech Park. These are investments from multinational corporations (MNC) from foreign countries and from within our own country.
He made these remarks at the graduation ceremony of the Institut Keusahawanan Negara Berhad (INSKEN) Sarawak Edition 2023 Coaching Programme here on Friday (Nov 10).
“With this, what we should look at is for the MSMEs to jump on the opportunities that are available from these investments including food catering, logistics and accommodation.
“If MSMEs can focus on certain components of the products manufactured by these companies, it could open avenues for the business sector to expand further,” he said.
Awang Tengah, who also serves as Minister of International Trade, Industry and Investment (MINTRED) also urged entrepreneurs to be more proactive in using new platforms (digital technology) to expand their businesses.
“We are in an era where consumers and entrepreneurs alike prioritise quality across all aspects of products and services. Hence, embracing digital platforms, especially e-commerce and online business is crucial for expanding businesses.
“Therefore, we cannot run away from using these platforms, whether a company is small or big, we have to embrace it, to grow our businesses,” he said.
Commenting further, he also called on MSMEs to adopt sustainability development goals (SDGs) policies and environmental, social, and governance (ESG) standards to facilitate the growth of their businesses.
“ESG will be a criterion when applying for bank loans. Therefore, businesses should be ‘bank smart’ and apply these policies into their operations to sustain their business long term,” he added.
