State pulled in RM7.8 billion in investments for first nine months of 2017

Sarawak Legislative Assembly Sitting, November 2017

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KUCHING, Nov 16: As of September 2017, Sarawak has managed to attract investments totaling RM7.8 billion and is expected to generate about 1,500 employment opportunities in the state.

Industrial and Entrepreneur Development Minister Datuk Amar Awang Tengah Ali Hasan said the figure does not include the USD3 billion proposed steel project and USD2 billion proposed methanol project in Bintulu.

He said the RM7.8 billion in approved investments involved petroleum and other related products (RM6.4 billion); non-metallic mineral products (RM684 million); electronics and electrical products (RM300 million) and warehousing and logistics, food manufacturing, basic metal products, wood-based and wood products which involved a total investment of RM190 million.

Awang Tengah disclosed this while delivering his winding-up speech at the State Legislative Assembly today.

He said Sarawak Corridor of Renewable Energy (SCORE) continued to attract foreign interest, especially Samalaju Industrial Park (SIP) where a concentration of energy intensive industries are producing materials used in many global manufacturing operations.

“The companies operating at SIP have generated exports totalling RM4.7 billion in 2016 and RM8.7 billion in 2017 (until October).

“They employ around 6,300 personnel, of which 70 per cent are local and create economic spinoffs estimated at RM500 million monthly,” said Tengah who is also Deputy Chief Minister.

On the Sama Jaya High Tech Park, he said Sama Jaya has created positive spinoffs for the local economy.

These spinoffs included employment of 10,400 school leavers and graduates, 960 engineers and a workforce where 99 per cent are locals.

“The total wages for the workforce amount to RM320 million annually, which flow back into the local economy.

“Total exports were valued at more than RM2.7 billion in 2016. For the first nine months of this year, the value was RM2.3 billion.”

He added that recently, the state has approved an investment worth RM1.2 billion from South Korea for the production of copper foil used in batteries for smartphones and electric vehicles. — DayakDaily