Sarawak poised for US$7 bln green economy boost over next decade

KUCHING (Dec 11): Sarawak is strengthening its position as a regional leader in the green economy, with projected investment potential of US$7 billion over the next decade through strategic collaborations with international industry leaders, said Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.

According to a Sarawak Public Communications Unit (Ukas) report, he said the investments are being driven by the signing of seven Memoranda of Understanding (MoUs) involving Petroleum Sarawak Berhad (Petros), China Jiangsu International Economic Technology Cooperation Group Ltd (CJI), and seven major Chinese companies committed to developing the Kuching Low Carbon Hub (KLCH).

“The interest shown by these companies reflects growing confidence in KLCH’s potential as a globally connected low-carbon industrial centre.

“Today, seven MoUs were signed between various companies in the green economy sector. Over the next 10 years, it is projected to bring investment potential worth US$7 billion, or about RM20 billion.

“Such investments will create many new job opportunities, particularly high-skilled jobs, in line with our efforts to improve household income,” he told a press conference after witnessing the signing of a Framework Agreement between Petros and CJI, followed by the exchange of seven MoUs at CJI’s headquarters in Nanjing, China.

Abang Johari added that the US$7 billion injection into the state’s economy will also help boost Sarawak’s gross domestic product (GDP), with the government targeting RM282 billion in GDP by 2030.

“With this investment, along with others that are ongoing or expected to come into Sarawak, I am confident we can achieve the target,” he said.

He also highlighted a key collaboration between Petros and CJI in human capital development. The partnership includes knowledge transfer, technical training, and local talent development through industrial training programmes and educational joint ventures.

“We know that the Jiangsu region has a high level of technical expertise. This is an opportunity for collaboration in education.

“For example, Sarawak is now providing free education for our students. Perhaps in their third year of study, they can be sent here for industrial training.

“When these industries begin operations in Sarawak, they can absorb these students as technical personnel. This will bring great benefits to the state,” he said.

Also present were Deputy Minister of Utility (Sarawak Energy Berhad and Petros) Datuk Ibrahim Baki, Petros chairman Tan Sri Datuk Amar Hamid Bugo, CJI chairman Song Qinbo, Petros group chief executive officer Dato Janin Girie, and CJI president Zhu Xingbao.