Sarawak receives RM1.3 billion investments in first half of 2010

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KUCHING: Sarawak received invesments amounting to RM1.3 billion, for which foreign investments accounted for RM1 billion, up to June this year, Industrial Development Assistant Minister Datuk Dr Abang Abdul Rauf Abang Zen said yesterday.

Replying to questions raised by Julaihi Narawi (BN-Sebuyau) and Datuk Awang Bemee Awang Ali Basah (BN-Nangka), he said the major investments were in the electronic and electrical products, metal products as well as petroleum products sectors.

“With these investments, more than 16,000 employment opportunities will be created apart from providing business opportunities in sectors such as logistics, construction, chemical and material supplies and other supporting industries for our local entrepreneurs to participate,” he told the Sarawak Legislative Assembly.

Last year, he said, the state received RM8.4 billion, of which foreign investments accounted for RM5.7 billion while domestic investments RM2.7 billion, mainly in the chemical and chemical products and basic metal products sectors.

Investments approved in 2008 totalled RM15.2 billion, made up of  RM13.2 billion from overseas and RM2 billion domestic investments.

Abang Abdul Rauf said Sarawak was expected to attract more foreign investments, mainly in energy-intensive and halal industries in the Sarawak Corridor of Renewable Energy region as well as in the high-tech industries in the Sama Jaya Free Industrial Zone here for the next few years.

However, in the light of global competition and uncertainties, he said, the ability to continue to attract sizeable foreign investments was going to be increasingly challenging for the state, he added. — Bernama