Sarawak beckons global Islamic entrepreneurs with robust infrastructure, supportive policies

Awang Tengah speaking during the closing ceremony of GMBF 2023 streamed live via Sarawak Public Communication Unit's (Ukas) Facebook page today.

KUCHING, Nov 30: Sarawak offers robust infrastructure, supportive government policies and a strategic position in Southeast Asia for global Islamic entrepreneurs and investors, says Deputy Premier of Sarawak Datuk Amar Awang Tengah Ali Hasan.

Awang Tengah, who is also Minister for International Trade and Investment and GMBF 2023 chairman, said Sarawak is also promoting digital and green economy, leveraging on renewable energy, decarbonisation solutions, and adaptation technologies.

“We aspire to be a regional leader in innovation and technology-driven economy.

“Sarawak’s strategic vision for growth reflects this commitment, charting a path toward sustainable development and equitable progress, aligning with global ESG (environmental, social and governance) standards and the United Nations Sustainable Development Goals (UNSDG),” he said during the closing ceremony of GMBF 2023 held at Borneo Convention Centre Kuching (BCCK) today.

He added that the Sarawak government has amended the Forest Ordinance, Land Code and enacted the new Environment (Reduction of Greenhouse Gas Emissions) Ordinance 2023.

These ordinances, he explained, empower the Sarawak government to regulate, manage and promote activities related to carbon trading, carbon capture, utilisation and storage (CCUS) and nature businesses.

Meanwhile, on GMBF 2023, Awang Tengah pointed out that global Islamic economy is still relatively untapped.

He said based on Adroit Market Research in November 2023, the value of halal market size is expected to reach close to USD 3.0 trillion by 2029, with an annual growth rate of 5.6 per cent.

He also said that the world economy is rapidly evolving and new economic sectors such as digital economy, circular economy, artificial intelligence, hydrogen economy, sustainable tourism and precision agriculture will be the catalysts for the next phase of economic growth. — DayakDaily