By Lian Cheng
KUCHING, May 28: In 2024, Sarawak recorded RM17.6 billion in approved investments across services, manufacturing and primary sectors, with Domestic Direct Investment (DDI) leading at RM13.5 billion or 76.6 percent, while Foreign Direct Investment (FDI) contributed RM4.1 billion or 23.4 percent. This investment involved 376 projects, potentially creating over 7,800 jobs.
Minister of International Trade, Industry and Investment Datuk Amar Awang Tengah Ali Hasan said the services sector accounted for RM7.6 billion or 43 percent, closely followed by manufacturing at RM7.5 billion or 42.9 percent, while the primary sector received RM2.5 billion or 14.1 percent.
“Despite similar investment values, manufacturing was the largest contributor to employment, generating 6,430 jobs or 81.8 per cent,” said Awang Tengah when delivering his ministerial winding up address at Sarawak Legislative Assembly here today.
He said the manufacturing sector recorded key investments in chemical products (urea, melamine, polycrystalline silicon and biodiesel) – RM2.9 billion; electrical and electronic (E&E) products – RM1.2 billion; and non-metallic products (clinker, concrete and cement) – RM800 million.
In Q1 2025, the manufacturing sector received RM681 million in investments across 24 projects, expected to create more than 900 jobs. Investments focused on E&E (mobile energy storage, charging and robotics) – RM75 million; manufacturing related services (warehousing) – RM20 million; and non-metallic mineral products (cement and concrete)– RM16 million.
He said for 2024, the trade recovery strengthened the transport and logistics sectors. The manufacturing sector performed well, with LNG as the primary driver. With exports rose 3.8 percent, driven by strong demand and higher prices.
Sarawak has performed well against global economy which grew by 3.2 per cent, driven by strong performance in the United States, China and emerging markets.
“Growth continued moderately, though geopolitical tensions and U.S. reciprocal tariffs created trade uncertainties,” he said.
Meanwhile, he said Malaysia’s economy, expanded by 5.1 percent in 2024, boosted by strong domestic demand and export recovery.
Growth continued at 4.4 percent in Q1 2025, led by consumer spending, a stable job market and private investment. Global trade risks may impact future growth. — DayakDaily
