Sarawak attracts RM4.2 bln in investments in Q1 this year

Tengku Datuk Seri Utama Zafrul Abdul Aziz

By Shikin Louis

KUALA LUMPUR, July 17: Sarawak has attracted RM4.2 billion in approved investments in the first quarter of this year.

Federal Minister of Investment, Trade and Industry, Senator Tengku Datuk Seri Utama Zafrul Abdul Aziz, said this achievement puts Sarawak in fourth place among Malaysian states in terms of value of investment flow.

“Thus far, we have seen many electrical and electronics (E&E) and chemical companies establishing their presence in Sarawak, including OCI Co Ltd, X Fab Sarawak Sdn Bhd, Melexis, and Taiyo Yuden Sdn Bhd.

“Together with many other domestic and foreign investors, these investments have created valuable spillover opportunities for small and medium enterprises (SMEs) and our fellow citizens in Sarawak, proudly contributing to the vibrant economic development of the State and nation,” he said during the launching ceremony of Malaysian Investment Development Authority (MIDA) Invest Series—Sarawak 2024 held in Kuala Lumpur today.

He said that since the launch of the New Industrial Master Plan (NIMP) 2030, Malaysia has recorded approved investments valued at RM329.5 billion in 2023, potentially creating over 130,000 jobs.

Malaysia has also attracted approved investments around RM84 billion in the first quarter of this year, an increase of 13 per cent year-on-year (y-o-y) and out of this, more than 56 per cent involved approved foreign investments.

“The total investments approved will create 29,000 new jobs for Malaysians, and Sarawak has been a key part of the national growth story,” he emphasised. — DayakDaily