Sarawak attracted RM23.17b investments in 2020 and 2021 despite Covid-19 challenges, says deputy premier

·2-min read
Malay Mail
Malay Mail

KUCHING, May 26 — Sarawak managed to attract a total investment of RM23.17 billion for 117 projects in 2020 and 2021 despite the challenging global situation due to the Covid-19 pandemic, Deputy Premier Datuk Amar Awang Tengah Ali Hasan told the state assembly today.

He said RM16.08 billion out of RM23.17 billion was approved in 2020, followed by RM7.09 billion in 2021.

Awang Tengah, who is also the state minister of international trade, industry and investment, said the investments are expected to create more than 11,000 employment opportunities.

“The major projects approved under Industrial Coordination Act 1975 (ICA) in 2020 and 2021 included basic metal products (2020) with an investment of RM13.8 billion and electrical and electronic products (2021) with an investment of RM 4.2 billion,” he said in his winding-up speech.

He said the state has approved two new expansion projects in Sama Jaya high technology park worth RM2.1 billion for electric and electrical products for this year.

He said the companies have already commenced construction work.

“In addition, the state ICC has also approved 16 projects worth RM75 million in beverage products, services (logistics and warehousing), wood and wood-based products (furniture, building materials, charcoal and sawn timber) and basic metal products (steel products),” he said.

Awang Tengah said the Sarawak Economic Development Corporation (SEDC) is also partnering with foreign investors on the proposed US$3 billion (RM13.2 billion) hydrogen project with a consortium of companies from South Korea.

He added SEDC is also partnering with Japanese investors with a proposed investment of US$400 million hydrogen project and with an American investor to build a US$192 million plant for the manufacturing of surgical gloves.

He said since the relaxation of travel restrictions and re-opening of international borders, his ministry has managed to conduct several in-person meetings with serious potential investors.

He added the meetings were with Singaporean investors on a metal project with a total investment of US$7.13 billion.

He said the investors have submitted the necessary applications to the state ICC.

Awang Tengah said the state government has also met with investors from China to set up an integrated oil refinery with a total investment of US$5.2 billion and investors from Australia to build green energy projects with a total investment of US$1.2 billion.

He said the Australian investor is now conducting a site feasibility study.

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