SBF, NCCIM ink MoU to drive domestic direct investment in Sarawak

Abang Johari witnessing the signing of the SBF-NCCIM MoU between Low (left) and Abang Abdul Karim.

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KUCHING, March 28: The National Chamber of Commerce and Industry of Malaysia (NCCIM) and the Sarawak Business Federation (SBF) have signed a Memorandum of Understanding (MoU) to foster collaborations aimed at achieving new heights in domestic direct investment (DDI) in Sarawak.

The signing ceremony was witnessed by the Premier of Sarawak Datuk Patinggi Tan Sri Abang Johari Tun Openg, with the MoU signed by NCCIM president Dato’ Low Kian Chuan and SBF president Datuk Abang Abdul Karim Tun Openg.

“The signing of the MOU between NCCIM and SBF lays the groundwork for deeper economic cooperation, emphasising driving DDI in Sarawak.

“NCCIM has been a strong advocate for DDI, particularly small and medium-sized enterprises (SMEs), to be promoted as a catalyst for economic growth and to be given equal emphasis in terms of policies and investment facilitation,” said Low in his speech tonight at the SBF-NCCIM Networking Dinner in Pullman Hotel Kuching.

Meanwhile, Abang Abdul Karim stated that SBF hopes to establish a solid platform to develop commercial and industrial ties with NCCIM.

“We have a good infrastructure and ecosystem in place to support an ideal investment climate. In addition, Sarawak’s current policy is business-friendly to investors.

“I hope that the private sector, particularly entrepreneurs from both the NCCIM and the SBF, will foster and strengthen domestic cooperation,” he said.

The SBF welcomed a delegation from the NCCIM to Kuching from March 28 to 30, 2022, led by Low.

Thirty delegates from the NCCIM’s five constituent chambers, including presidents, business leaders, investors, and representatives, participated in this mission.

SBF was also represented by 30 delegates from ten of its constituent members.

The goal of the visit was to raise awareness about investment opportunities in Sarawak and provide a platform for SBF members to network.

The three-day event included a field trip to the Semenggoh Nature Reserve and a visit to the Sarawak Biodiversity Centre for a briefing, and a tree-planting ceremony to commemorate NCCIM’s visit.

Delegates attended a business luncheon that included presentations from Sarawak Economic Planning Unit (EPU), Regional Corridor Development Authority (RECODA), Sarawak Economic Development Corporation (SEDC), Malaysian Investment Development Authority (MIDA), and Press Metal Sdn Bhd, followed by a B2B (business-to-business) networking session. — DayakDaily