(Kuching, 26th) From 2020 to 2024, Sarawak successfully attracted investments totaling 120.3 billion ringgit, reinforcing its position as one of Malaysia's preferred investment destinations.
In this regard, Sarawak Deputy Prime Minister Datuk Amar Awang Tengah expects the 'Sarawak Investment Policy' to be completed this year.
Awang Tengah, who is also the Minister for International Trade, Industry, and Investment of Sarawak, stated during his department’s annual meeting today that the department will implement the strategies outlined in the 'Sarawak Investment Policy' to enhance Sarawak's attractiveness as a preferred investment destination.
He noted that from 2020 to 2024, Sarawak's investment performance was strong, with total investments reaching 120.3 billion ringgit, covering various sectors such as primary industries, services, and manufacturing.
Among these, 51.2 billion ringgit came from foreign direct investment, and 69.1 billion ringgit from domestic direct investment.
To further support industrial development crucial to attracting investment to Sarawak, under the 12th Malaysia Plan, the department approved 46 projects with the highest amount being 229 million ringgit.
To strengthen the partnership between the government and private institutions, the department established the Industrial Park Management Committee (IPMC) to facilitate effective communication and more sustainable management of industrial parks.
"Moreover, this industrial infrastructure will encourage the participation of the local entrepreneurial community in the business value chain."
Awang Tengah also emphasized that the state government is drafting the Sarawak Entrepreneurship Policy to ensure the development of a more sustainable and competitive entrepreneurial ecosystem.
He stated that from 2021 to 2024, the Sarawak government, through the department, provided assistance of up to 226 million ringgit to over 89,900 entrepreneurs, including projects such as SME loan schemes, Sarawak microcredit schemes, graduate entrepreneurship programs, tech and vocational entrepreneurship, training programs, and product promotion.
250226tcb02. Sarawak Deputy Prime Minister Datuk Amar Awang Tengah delivering a speech at the department's annual meeting.