Foreign investors willing to undergo quarantine in Sarawak

Awang Tengah delivering his winding up speech in the State Legislative Assembly.

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KUCHING, Nov 13: The willingness of foreign investors to observe and comply with Sarawak’s mandatory 14-day quarantine during the Covid-19 pandemic just to conduct a feasibility study reflects Sarawak as a preferred investment destination in Malaysia.

Deputy Chief Minister Datuk Amar Awang Tengah Ali Hasan said recently a South Korean company sent four of its senior officers to Sarawak and willingly underwent 14 days quarantine just to conduct feasibility study for their investment.

“It shows their seriousness in Sarawak and the company is pleased with their findings. We are confident that they will choose Sarawak for their RM2.3 billion investment,” Awang Tengah, who is also Minister of International Trade and Industry, Industry Terminal and Entrepreneur Development said in his winding up speech at the Sarawak Legislative Assembly (DUN) sitting today.

On top of that, he added that investors from China are also in the midst of applying to enter Sarawak to further their feasibility studies in bathymetric for their proposed USD5.2 billion oil and gas project in Sarawak.

Others include Japan’s Sumitomo Corporation and ENEOS Corporation who recently signed an MOU with SEDC Energy Sdn Bhd on the establishment of a hydrogen production facility in Bintulu.

“There is also a joint venture between Japanese companies and STIDC subsidiary on biomass industrial fuel pellets project worth RM126 million and this is expected to commence construction at Tanjung Manis in mid 2022.

“Another RM500 million battery project at Demak Laut; a joint venture between China and Sarawak companies is under construction. The RM5.7 billion methanol plant in Kidurong is also under site preparation. Similarly, the RM17 billion steel project in Samalaju is expected to commence site preparation soon,” Awang Tengah said.

He further disclosed that Sarawak was ranked No. 1 as the most preferred investment destination in Malaysia in terms of manufacturing sector (RM15.8 billion) this year when foreign investors continue to seek investment opportunities in Sarawak.

Despite the Covid-19 pandemic, he said such performance in attracting investments has been commendable despite strong competitions from other states and neighbouring countries.

Due to the increasing global demand for mobile services, hard disk drives, servers and energy storage solutions, as well as automotive products, Awang Tengah added that Taiyo Yuden, Western Digital, IMM Technology and X-FAB are proceeding with their expansion plans in Sama Jaya Industrial Park here valued at RM6.46 billion.

“This investments by foreign investors, especially during this challenging time are a clear manifestation of the investor’s continued confidence in our Sarawak leadership,” Awang Tengah asserted. — DayakDaily