Sarawak approved FDI worth RM31.8 bln for high-technology industry from 2019-2023

Sarawak approved FDI worth RM31.8 bln for high-technology industry from 2019-2023

12 Nov 2024

The Sarawak state government has approved RM31.8 billion in foreign direct investments (FDI) for high technology industries such as the electrical and electronics, chemicals and green metal sectors from 2019 to 2023.

State Deputy International Trade, Industry and. Investment Minister Datuk Malcolm Mussen Lamoh said 10 investment projects totalling RM9.3 billion had been implemented.

“The high technology industry projects implemented totalled RM9.3 billion, comprising five electrical and electronics projects, three chemical projects and two green metal projects.

“The state government is also working with the federal government to develop Sarawak as aerospace and semiconductor hubs,” he told the Sarawak State Assembly in today’s question-and-answer session.

Mussen was responding to a question from Razaili Gapor (GPS-Beting Maro) on the status of the high-technology industry FDI received by Sarawak.

Mussen said that the state government is developing the Sarawak Investment Policy to shape the strategy and action plan to improve the state’s attraction as an investment destination of choice and support the high-technology industry.

“The state government is also encouraging strategic cooperation with technical institutions, research centres, higher education institutions and specialised industries such as semiconductors and aerospace to spur innovation and technology development,” he added.

Source: Bernama