S'wak’s Investor Appeal Remains Strong Amid Global Crisis - Awang Tengah

KUCHING, March 30 (Bernama) -- Sarawak remains resilient, leveraging its strategic advantages to maintain investor confidence, particularly in the energy sector, despite geopolitical tensions in West Asia challenging global investment flows, said Sarawak Deputy Premier Datuk Amar Awang Tengah Ali Hasan.

He noted that Sarawak’s abundant renewable energy, particularly hydro, gives the state a strong edge as countries worldwide face supply shortages and higher energy prices.

“Our strength lies here. While other countries face constraints, we keep expanding our renewable energy capacity, which remains a major draw for investors,” he told reporters after attending the SMD Semiconductor Bejarah Raya Aidilfitri here today.

Awang Tengah, Sarawak’s Minister of Natural Resources and Urban Development and Minister of International Trade, Industry and Investment, said investor interest remains strong, especially in solar projects involving investors from China and the Middle East.

“There have been recent visits from potential investors, and investment commitments are already in place, but we will continue to monitor global developments,” he said.

He said Sarawak saw more than RM16 billion in foreign direct investment last year, with domestic direct investment covering key sectors, services and manufacturing.

“In the past five years, approved investments have exceeded RM16 billion, with most projects either completed or moving forward steadily,” he said, adding that the Sarawak government will keep working to attract more investment.

--BERNAMA