THE federal government may consider offering incentives such as Pioneer Status, Investment Tax Allowance, and Import Duty Exemption to promote investments in key industries, said Datuk Dr Malcom Mussen Lamoh.
The Deputy Minister for International Trade, Industry, and Investment explained that Sarawak offers various incentives to attract foreign investments in advanced technology.
These incentives are designed to support industries that generate high-income jobs, foster linkages with local businesses, promote sustainability, and align with strategic economic sectors.
Malcom noted that the state government offers competitive tariffs for land, power, and water, making Sarawak an attractive destination for advanced technology investments.
“For investors granted Pioneer Status, they will enjoy income tax exemptions ranging from 70 per cent to 100 per cent for a period of 5 to 10 years.
“Meanwhile, those eligible for the Investment Tax Allowance can receive 60 per cent to 100 per cent tax exemptions on qualifying capital expenditures over five years,” he said.
He was responding to a question raised by Yap Yau Sin (GPS-Kota Sentosa) during the State Legislative Assembly (DUN) sitting today (Nov 14).
Yap inquired about Sarawak’s incentive packages for foreign investments in advanced technology and the benefits of Pioneer Status and Investment Tax Allowance.
Malcom, who serves as the Batang Ai assemblyman, assured that for investments in advanced technology and the green circular economy, the Sarawak government offers two specific incentives.
They are the Green Investment Tax Allowance (GITA) for capital expenditures on qualifying green technology projects, and the Green Income Tax Exemption (GITE) for service providers listed under the MyHIJAU Directory.
