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Premier: Sarawak now one of preferred investment destinations in Malaysia, thanks to business-friendly policies

Premier: Sarawak now one of preferred investment destinations in Malaysia, thanks to business-friendly policies

07 Nov 2023

Sarawak’s business-friendly policies have led the state to be one of the most preferred investment destinations in Malaysia, said Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.

He said the policies are aimed at boosting investor confidence and fostering economic growth in the state.

“This is supported by the facilitation of Foreign Direct Investments (FDIs) into the state, particularly in high-value sectors such as renewable energy, digital technology, ecotourism, and agrotechnology.

“This points to Sarawak’s commitment to attracting investments in these promising areas.”

He said this in his keynote address at the Malaysian Industrial Development Finance Berhad (MIDF) Automation and Digital Forum (Sarawak Edition) at a hotel here today.

His text of speech was read by Deputy Minister of International Trade and Investment, Datuk Malcolm Mussen Lamoh.

In an effort to stimulate economic growth in the state, Abang Johari said the state government had allocated RM7 million to InvestSarawak, an entity aimed at attracting FDIs into Sarawak.

This allocation is part of an effort to attract both local and foreign investors and drive economic development in the state, he added.

Furthermore, he pointed out, the state government is also placing a strong emphasis on supporting young entrepreneurs in their business post-pandemic recovery efforts – which underscores the crucial role of entrepreneurship in fostering innovation, job creation and overall economic growth.

“Specific funding allocations have been outlined for programmes like the Special Relief Fund, Targeted Relief & Recovery Facility (TRRF), Penjana Tourism Fund (PTF), Skim Kredit Mikro Sarawak, Skim Pinjaman Industri Kecil dan Sederhana (SPIKS), Graduan ke Arah Keusahawanan (Gerak), Usahawan Teknikal & Vokasional (Ustev), Transformasi Usahawan Desa Sarawak, and the ‘Go Digital Programme.’

“These allocations are aimed at supporting various segments of the entrepreneurial ecosystem,” he said.

Source: Borneo Post