RM11.3 billion investments approved 

KUCHING: The Sarawak government has approved RM11.3 billion worth of investments in the manufacturing sector as of September this year. 

Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said this was due to the state’s business-friendly policy that has always been very supportive of both foreign direct investments (FDI) and domestic direct investments (DDI).

Sarawak, he said, has remained as one of the most popular destinations for investment and continues to welcome investments and collaborations, particularly in six priority sectors namely manufacturing, commercial agriculture, tourism, forestry, mining and services that can create mutual benefits for all.

In addition, he said, the Sarawak government’s commitment to sustainable development has gained global attention, which was evident through favourable ratings by international rating agencies such as Standard and Poor’s and Moody’s Investor Services that concur with Sarawak’s strategy to attract more quality investments to develop Sarawak on a big scale.

“We are now focusing on promoting low carbon solutions, green and circular economy. We also aim to be a regional leader in innovation and high technology- based economy. 

“With Sarawak’s Post Covid-19 Development Strategy 2030 (PCDS 2030), we are promoting economic prosperity, social inclusivity and environmental sustainability,” he said. 

Abang Johari was speaking at the Memorandum of Understanding (MoU) signing ceremony between Invest Sarawak Sdn Bhd and Surbana Jurong Infrastructure Pte Ltd in Dubai, United Arab Emirates in conjunction with the 2023 United Nations Climate Change Conference (COP28) on Tuesday (Dec 5). 

The MoU was signed by Tan Wooi Leong from Surbana Jurong and Timonthy Ong of InvestSarawak. It will cover areas of collaborations in industry transformation; energy transition and industrial decarbonisation; carbon capture, usage and storage (CCUS) decarbonisation; as well as industrial park development and management, in the hope to realise the development of low-carbon industries in Sarawak.

The MoU is a natural progression following the completion of the master plan for the development of industrial terminals in Sarawak that Surbana Jurong did for the Sarawak government. 

The master plan has identified challenges and opportunities for Sarawak’s industrial landscape, such as green economy opportunities and enhance and develop skill sets to equip the people of Sarawak for these new opportunities; and the implementation of a just energy transition and industrial decarbonisation projects, integrated with greenfield and brownfield industrial activities.

In order to put commitment into real climate action, Abang Johari said, Sarawak became the first state in Malaysia to pass law on carbon emissions – the Environment (Reduction of Greenhouse Gas Emission) Bill 2023 recently. 

The Ordinance is designed to safeguard Sarawak’s environment by implementing concrete strategies to reduce the emissions of greenhouse gases.

It will also help to promote carbon capture and storage that will help mitigate the impact of climate change while providing a platform for Sarawakians to participate in carbon mitigation projects that will earn carbon credits for their efforts. 

“All the other efforts currently in progress such as Green Hydrogen, Micro-Algae, Sustainable Aviation Fuels (SAF) and also biomass projects in Sarawak are all done with a view to a better future for Sarawak and the planet,” he added. 

Among those who present were Deputy Premier Datuk Amar Awang Tengah Ali Hasan, who is also Minister for International Trade, Industry and Investment, and his deputy, Datuk Malcom Mussen Lamoh, State Secretary Datuk Amar Mohd Abu Bakar Marzuki and Deputy Minister for Energy and Environmental Sustainability Datuk Dr Hazland Abang Hipni.