Business-friendly policies make Sarawak top investment destination, says Awang Tengah - MIDA | Malaysian Investment Development Authority
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Business-friendly policies make Sarawak top investment destination, says Awang Tengah

Business-friendly policies make Sarawak top investment destination, says Awang Tengah

30 Oct 2023

The recently approved RM11.3 billion investment in the manufacturing sector is testament to Sarawak’s attractiveness as one of Malaysia’s leading investment destination, says Deputy Premier Datuk Amar Awang Tengah Ali Hasan.

The Sarawak government, he said, has adopted the business-friendly policy and is supportive of both foreign and domestic investments.

“We welcome investments and collaborations, particularly in six priority sectors promoted under the Post Covid-19 Development Strategy (PCDS) 2030, namely manufacturing, commercial agriculture, tourism, forestry, mining, and services that can create mutual benefits for all.

“The state is now focusing on developing and promoting low carbon solutions, green and circular economy, to which we also aim to be a regional leader in innovation and high technology-based economy,” he said.

Awang Tengah said this in his opening remark at the JX Nippon Oil & Gas Exploration (Malaysia) Limited 20th anniversary celebration of the 1st Gas Helang Field, here Saturday.

The Minister for International Trade, Industry and Investment also stressed on human capital development as the driving force of the state’s next phase of economic development, to which he was pleased to note on the future collaboration between JX Nippon Oil & Gas Exploration (Malaysia) Limited with Sarawak Skills Centre on career and skills development programmes.

“As Sarawak moves towards its 2030 aspiration, I hope such initiatives will successfully contribute to its shift from a traditional commodity-based to a sustainable technology-based economy,” he added.

Awang Tengah, also Second Minister for Natural Resources and Urban Development, said that the state government through Petroleum Sarawak (Petros) will continue to drive the development of oil and gas industries, as part of PCDS 2030.

“Petros is already participating in 17 blocks offshore Sarawak, and has started its drilling activities in Onshore SK433 and completed the subsurface studies in Limbang / Lawas area.

“Petros will continue to be actively involved in upstream projects, especially in rejuvenating onshore exploration and commercialisation.

“For the midstream and downstream projects, Sarawak is investing in its 10-year Sarawak Gas Roadmap, with four hubs namely in Bintulu, Samalaju, Miri and Kuching.”

He said from these four hubs, Petros will promote domestic gas utilisation across Sarawak by developing gas distribution infrastructure, promote petrochemical industries and provide sustainable, reliable and affordable energy to the household, commercial and industrial customers.

The four key projects are gas to power in Miri; gas to power in Samalaju; pipeline from Kidurong to Samalaju; and Kuching Gas Hub, he said, adding that the state is currently developing gas distribution systems via VPA and pipeline, Gas Power Plants and Petrochemical complexes.

“Currently under this roadmap, Petros is planning to complete Miri Combined-cycle gas turbine (CCGT) and Samalaju Pipeline by 2027.

“Next, Sarawak will be developing the Kuching Gas Hub to promote and accelerate the development of gas-based industry in Kuching,” he disclosed.

Thus, Awang Tengah said Petros, as the resource manager for carbon capture, utilisation and storage (CCUS) in Sarawak, welcomes international and regional investors including JX Nippon to connect directly with Petros to explore the opportunity.

Also present at the event were state Transport Minister Datuk Sri Lee Kim Shin; Deputy Minister for Energy and Environmental Sustainability Datuk Dr Hazland Abang Hipni; Deputy Minister in the Premier Office, Labour, Immigration and Project Monitoring Datuk Gerawat Jala; and JX Nippon Oil & Gas Cooperation president Toshiya Nakahara, vice president Tetsuo Yamada, senior vice president Shinji Oka and managing director Katsunori Ozawa.

Source: Borneo Post