China a major source of FDI for Sarawak — Awg Tengah

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Datuk Amar Awang Tengah Ali Hasan

Datuk Amar Awang Tengah Ali Hasan

KUCHING: China has become an emerging source of foreign direct investment (FDI) for Sarawak in recent years, disclosed Second Minister of Resource Planning and Environment Datuk Amar Awang Tengah Ali Hasan.

He said to date, China remains as one of the state’s most important trading partners.

Awang Tengah, who is also Minister of Industrial and Entrepreneur Development, Trade and Investment, pointed out that last year, Sarawak’s export to China totalled RM7.4 billion and imports totalled RM4.5 billion.

“We exported mainly natural gas, timber and timber products and electrical components, while we imported manufactured goods and machineries,” he said at the signing ceremony of the Declaration of Friendship Agreement between Fujian Province of the People’s Republic of China and Sarawak.

He further said that over the last three years, the state has welcomed Xi’an LONGi Silicon Materials Corporation and Comtec Solar Group, which brought in more than RM2 billion as investment in the solar panel industry.

He said both are already in operation, and almost 100 per cent of their workers are Sarawakians.

In addition, he said companies like Sinohydro and Yantze Three Gorges Technology and Economy Development Co. Ltd., China Machinery Engineering Corporation had been involved in the construction of the state’s hydropower dams and coal-fired power plant.

On the Declaration of Friendship Agreement with Fujian Province, he believed it would further enhance people-to-people contacts as well as promote active exchanges and cooperation in various fields such as economy, trade, science and technology, culture, sports, education and personnel.

It would also further strengthen the goodwill between Malaysia and China, especially between Sarawak and Fujian Province, he added.

During his meeting with Fujian vice governor Liang Jianyong on September 8 this year, he said they discussed many areas in which Sarawak and Fujian can collaborate.

Among the discussions, he said, were about the Declaration of Friendship between Sarawak and Fujian Province, enhancing trade and investment between Sarawak and Fujian Province and a proposal for air connectivity between Fujian Province and Sarawak.