BY NUR ATIQAH QURATULAINI
THE federal government offers tax incentives such as Pioneer Status, Investment Tax Allowance and Reinvestment Allowance to attract foreign investment to downstream industrial production utilising the state’s abundant renewable energy sources.
Deputy Minister of International Trade, Industry and Investment Datuk Dr Malcom Mussen Lamoh said that apart from the tax incentives, investors can apply for import duty and sales tax exemption on selected equipment, machinery, spare parts and raw material.
“Above these incentives, the Sarawak government also offers non-tax incentives such as industrial land with basic infrastructure at affordable premium rates and water tariff,” he said
In reply to Wilfred Yap (GPS-Kota Sentosa) today.
In light of this, he said the state government offered two specific incentives, namely Green Investment Tax Allowance (GITA) on Capex for qualifying green technology projects for own consumption; and the Green Income Tax Assumption (GITA) for qualifying green technology service provider companies listed under MyHijau directory.
“In order to authenticate its commitment towards Sustainable Development Goals (SDGs) the Renewable Energy Certificate (REC) issued by Sarawak Energy Berhad has established credible means to procure renewable energy in Sarawak.
“This certification offers a competitive advantage to industry players to supply sustainable products and services and is in compliance with international standards, which provide added value to their products and service,” he said.
On another matter, Malcolm said that in 2023, the Sarawak government had approved RM22.8 billion worth of investment that potentially created about 4,500 investment opportunities despite the adverse impact of globalisation and the glaring uncertainties in the global economy.
“We managed to create a preferable ecosystem for investors and business to thrive forward,” he said.
