FOR the first nine months of this year, Sarawak was ranked first as the most preferred investment destination in Malaysia in terms of investment value in the manufacturing sector at RM15.8 billion.
Deputy Chief Minister Datuk Amar Awang Tengah Ali Hasan said due to increasing global demand for mobile devices, hard disk drives, servers, energy storage solutions, and automotive products, Taiyo Yuden, Western Digital, IMM Technology, and X-FAB were proceeding with their expansion plans in Sama Jaya valued at RM6.46 billion.
“These investments are a clear manifestation of the investors’ continued confidence in our leadership,” he said in his winding-up speech for the Ministry of International Trade and Industry, Industrial Terminal and Entrepreneur Development (Mintred) today.
He pointed out that four senior representatives from a South Korean company had travelled to Sarawak and willingly underwent 14 days of quarantine to conduct the feasibility study for their investment recently, expressing confidence that the company will select Sarawak for its RM2.3 billion investment.
“Investors from China are also in the midst of applying to enter Sarawak to further their feasibility studies in bathymetric for their proposed USD5.2 billion oil and gas project in Sarawak,” said Awang Tengah, who is also minister for Mintred.
He noted the recent memorandum of understanding (MoU) signed between the Sarawak Economic Development Corporation (SEDC) and Japan’s Sumitomo Corporation and ENEOS Corporation for the establishment of a hydrogen production facility in Bintulu.
He said discussions had also been commenced with another foreign company on their proposed hydrogen project.
He also mentioned the RM126 million joint venture project between Japanese companies and the Sarawak Timber Industry Development Corporation’s (STIDC) subsidiary on biomass industrial fuel pellets, the RM500 million joint venture battery project between China and Sarawak companies at Demak Laut, and the RM5.7 billion methanol plant in Kidurong which is under site preparation.
“Similarly, the RM17.05 billion steel project in Samalaju is expected to commence site preparation soon. My ministry will continue to facilitate all these investments so that we do not miss out on these opportunities even during this pandemic,” he said.
Awang Tengah said under the 11th Malaysia Plan (11MP), the total approved investments for Sarawak’s manufacturing sector was recorded at RM51.9 billion, creating approximately 31,900 new employment opportunities.
He said that of the total approved investments, Foreign Direct Investment (FDI) accounted for 57.8 percent (RM30 billion) whereas Domestic Direct Investment (DDI) constituted the remaining 42.2 percent (RM21.9 billion).
“Our performance in attracting investments thus far has been commendable despite strong competition from other states and neighbouring countries,” he said.
Speaking of the performance of the state’s manufacturing sector this year, he said that, to date, the State Industrial Coordination Committee (ICC) had approved 56 investment projects totalling RM21.6 billion, creating an estimated 11,600 employment opportunities for Sarawak.
“Out of these, 19 are ICA (Industrial Coordination Act 1975) projects totalling RM15.8 billion — mainly in basic metal products, wood and wood-based products, and transport equipment products,” he said.
He said these projects were expected to create about 6,000 employment opportunities in the state.
He added that the remaining 37 ICC projects totalling RM5.8 billion were mainly in electrical and electronic products, non-metallic mineral products, wood and wood-based products, renewable energy, transport equipment products, and so on.
“These investments are expected to create about 5,600 employment opportunities in the state,” said Awang Tengah.
