KUCHING (BERNAMA) – Sarawak recorded MYR16.69 billion worth of investments for the first nine months of 2023 despite the sluggish global economy, said Sarawak Deputy Premier Datuk Amar Awang Tengah Ali Hasan.
He said that based on preliminary figures from January to September this year, the manufacturing sector contributed 68 per cent of the total investments, followed by the primary sector (19 per cent) and services sector (13 per cent).
“These investments are expected to create more than 4,500 employment opportunities,” said Awang Tengah, who is also the State International Trade, Industry and Investment Minister.
Winding up for his ministry at the Sarawak Legislative Assembly yesterday, he said the manufacturing sector was the largest contributor, attracting MYR11.37 billion worth of investment from 73 projects.
“Newly approved manufacturing-related investments, mainly in non-metallic mineral products, which secured MYR6.3 billion, chemical and chemical products (MYR769 million) and basic metal products (MYR62 million) proven domestic and foreign investors’ confidence,” he said.
Awang Tengah said existing investors were also taking advantage of the favourable business climate in the state and expanding their investment in basic metal products with MYR2.3 billion, electrical and electronics products MYR1.2 billion and chemical and chemical products (MYR154 million).
He also said Sarawak has been receiving new investment proposals from both foreign and domestic investors for the production of battery components for use in electric vehicles (MYR5 billion), green metal (MYR2.59 billion) and medical gloves (MYR1.5 billion).
“Investment in mining was the main contributor of the primary sector with four main projects from oil and gas upstream activities worth MYR2.7 billion. These projects are located offshore of Miri and Bintulu,” he added.
