By Ling Hui
KUCHING, May 15: Sarawak has registered a total of RM22.8 billion of approved investments in 2023, and Domestic Direct Investment (DDI) was the main contributor at RM15 billion or 65.8 per cent.
Minister for International Trade, Industry and Investment Datuk Amar Awang Tengah Ali Hasan said Foreign Direct Investment (FDI) contributed the remaining RM7.8 billion or 34.2 per cent.
He also said the manufacturing sector contributed the highest share of investments at RM9.2 billion or 40.3 per cent of the total approved investments, followed by services sector at RM8.8 billion or 38.6 per cent and primary sector at RM4.8 billion or 21.2 per cent.
“In 2023, the manufacturing sector contributed 27.7 per cent to the total GDP of Sarawak, creating 4,200 employment opportunities.
“The approved investments were mainly in E&E (semiconductors wafers, testing & probing) – RM3.4 billion, basic metal (copper foil & building materials) – RM2.6 billion and chemical products (ECH & Fertilizer) – RM1.3 billion,” he said.
Awang Tengah, who is also Sarawak Deputy Premier, noted nearly 50 per cent of the approved projects in 2023, among them E&E, basic metal, chemical and food products, have been materialised in various stages of development.
For the first quarter of 2024, he said, Sarawak’s manufacturing sector recorded RM2.4 billion worth of investment for 30 projects, which are expected to create more than 2,000 job opportunities.
“These projects were mainly in chemical products (urea & melamine) – RM1.7 billion, basic metal products (metallic silicon & molten aluminium) – RM436 million and non-metallic mineral products (cement & concrete) – RM143 million,” he told the Sarawak Legislative Assembly in his ministerial winding-up speech today.
He also listed several other investment interests and expansion including the solar glass project and mining of silican sand worth RM6.5 billion; data centre worth RM18.6 billion; and expansion to manufacture components for battery worth RM1 billion.
“As one of the strategic promoted sectors under the Post Covid-19 Development Strategy 2030 (PCDS 2030), manufacturing will shift to more advanced and technology-driven production, move up the value chain and diversify towards sustainable green growth.” — DayakDaily
