Investors worldwide welcome to explore potential of green economy in S’wak, says Premier

KUCHING (Dec 9): The Sarawak government welcomes investors from all over the world to explore the investment potential in the new economy based on green technology, said Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.

In a Sarawak Public Communications Unit (Ukas) report, he said the Post Covid-19 Development Strategy (PCDS) 2030 had been formulated among others to open up Sarawak to greater collaboration with potential foreign investors.

He pointed out that Sarawak with its vast resources was especially keen to attract investment in the clean and renewable energy sector, as this would the energy of the future.

“We will prioritise investments that focus on clean green technology that will create economic prosperity, social inclusion and environmental sustainability.

“At the same time, we are exploring the added value of clean energy sources in the field of hydrogen production as well as sustainable aviation fuel (SAF) using microalgae,” he said at the opening of the MINTRED Connects@London 2023 program at the Hyatt Regency London — The Churchill London on Friday.

Also present were Malaysian High Commissioner to the United Kingdom (UK) Datuk Zakri Jaafar, Sarawak Deputy Premier Datuk Amar Awang Tengah Ali Hasan, Sarawak State Secretary Datuk Amar Mohamad Abu Bakar Marzuki, Deputy Minister of Energy and Environmental Sustainability Datuk Dr Hazland Abang Hipni, Deputy Minister of International Trade, Industry and Investment Datuk Malcolm Mussen Lamoh, acting permanent secretary to the Ministry of International Trade, Industry and Investment Dzulkornain Masron and other invited guests.

Abang Johari also said he had recently attended the 28th United Nations Climate Change Conference (COP28) in Dubai, which reflected Sarawak’s commitment in line with the world’s movement towards energy transition and climate change mitigation.

He told British entrepreneurs at the event that Sarawak had 20 gigawatt potentials in hydropower and was eager to venture into developing energy sources from wood pellets.

He welcomed British investment in the clean energy sector in Sarawak that would help add value to its resources, thereby creating economic prosperity for its people.

He said Sarawak had been categorised as a high-income region in Malaysia by the World Bank, but that had to be translated into high household income for its people by adding value to its wealth of resources.

Meanwhile, Awang Tengah who is also International Trade, Industry and Investment Minister, said MINTRED Connects is an investment promotion and trade outreach programme under his Ministry which has become a platform to attract investors interested in exploring investment opportunities in Sarawak.

According to him, Sarawak’s strategic location in the Asian market also makes the state a good position as the gateway for potential investors from the United Kingdom and Europe to penetrate the market for products and services.

“For the record, the value of Malaysia’s trade with the UK is worth RM17.57 billion in 2022, while Sarawak’s trade with the UK is worth RM150.7 million in the same year.

“The moderate trade figures between Sarawak and the UK show there is an opportunity for more cross-border activities in the trade of goods and services.

“So, we (the Sarawak government) welcome all investment and cooperation in the six priority sectors namely manufacturing, commercial agriculture, tourism, forestry, mining and services,” he said.

He added that last June and September, similar programmes were held in Guangzhou and Beijing to provide a platform for Sarawak companies to establish relationships and network with business partners in China.

He also said the state government also hopes higher education institutes from the UK can explore opportunities in Sarawak due to its strategic location.

In the same ceremony, Abang Johari and other guests also witnessed the signing of four Memorandums of Understanding (MoU) in cooperation in investment, tourism, art and product distribution.

The first MoU involved Fame International Consulting (MM2H) Sdn Bhd with Salsa San Limited, followed by the MoU between Fine Impression and Crafito Arts & Film Academy London Ltd, the MoU between InvestSarawak Sdn Bhd and WWIP Ltd and the last MoU between Leonard Design Architects with Penan Women Project.