Awang Tengah (fourth left) and guests performing the Lou Shang at Limbang Chinese New Year dinner.
LIMBANG: Hard work and efforts by the state government bagged a roaring RM10.7 billion in foreign direct investments registered last year, spectacularly surpassing its target by RM3. 7 billion.
Deputy Chief Minister and Minister of Industrial and Entrepreneurs Development Datuk Amar Awang Tengah Ali Hasan said this achievement surpassed the target of RM7 billion, excluding the USD3 billion (RM11.7 billion) steel plant and USD2.2 billion (RM8.58 billion) projects secured to be implemented in the state.
“It was much higher than our target and this is attributed to the conducive investment environment arising from vital political stability which we have in our state and Malaysia,” he said at the Limbang District Chinese New Year dinner at Purnama Hotel on Monday night.
He said the massive investments of RM20 billion in value from the approved steel plant and methanol plant projects in Bintulu were not registered in time by Malaysian Investment Development Authority ( MIDA) and were excluded from last year’s figure.
Awang Tengah, who is also Second Minister of Urban Development and Natural Resources, pointed out that a combination of factors made Sarawak the top pick among foreign investors in the international scene but the business-friendly approach by the state government was a strong pull factor in attracting foreign direct investment to Sarawak.
He said this was facilitated by other affirmative policies oriented in making Sarawak an attractive investment destination in this region.
“The other contributing factors are our top notched state civil service, easily trainable workers from our colleges and universities, skilled workers and good security in the state,” he added.