Datuk Jalilah Baba
KUCHING: Sarawak is still a powerhouse to attract solid investments, says the former Director General of the Malaysian Industrial Development Authority (Mida), Datuk Jalilah Baba, who is now the chairman of Crewstone International Sdn Bhd.
“It is no secret that the state of Sarawak has long been a prosperous environment for trade and investments both inbound and out.
“Blessed with natural resources and anointed as a top tourism destination, Sarawak should continue to see healthy investments domestically and from international suitors,” Jalilah told The Borneo Post.
“In 2014, Sarawak registered total investments in the manufacturing sector valued at RM9.6 billion, of which, 87 per cent came from foreign investment while the remaining ones came from domestic investments.
“This figure alone demonstrates the power and potential the state has to offer.
“There were other investments in the services sector and tourism industry as well.”
Jalilah affirmed that the Sarawak Corridor of Renewable Energy (SCORE), as one of Malaysia’s five economic corridors, was bringing in substantial sums of investment into the state.
“To meet the needs of both local and foreign investors, SCORE developed areas are implementing various projects emphasising on infrastructure development such as an airport, a deep seaport, industrial parks, access roads to hydro-electric power (HEP), including utility projects – creating a well-established, integrated, and comprehensive hub to meet business needs — to transform Sarawak into a high income and developed nation by 2020.
“This is a larger part of the 2020 vision envisioned by the government.”
Within the Asean region, Malaysia is recognised for offering one of the most attractive incentive packages. With that said, Jalilah noted that Sarawak is one of the most attractive locations for investments involving high capital expenditure, especially in SCORE.
“With the bulk of the investments in SCORE now recorded to be in steel, oil and gas, as well as the aluminium sectors, Sarawak’s bio-diversity and natural resources rich environment, could see an increased investment in these areas in the near future.
“Various incentives for the high-tech industries, small scale companies, strategic industries and more have also been introduced to support and encourage investments in these areas.
“Being the largest state in the country, there is massive potential for further development and growth that will allow Sarawak to thrive as a hub for investments.”