Sarawak's 2022 investments hit RM32 billion - Awang Tengah - MIDA | Malaysian Investment Development Authority
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Sarawak’s 2022 investments hit RM32 billion — Awang Tengah

Sarawak’s 2022 investments hit RM32 billion — Awang Tengah

24 May 2023

Sarawak recorded RM32 billion in investments last year, which created more than 5,000 new employment opportunities, said State International Trade, Industry and Investment Minister Datuk Amar Awang Tengah Ali Hasan.

Awang Tengah, who is also Sarawak’s Deputy Premier, said the primary sector contributed RM22.3 billion of the investment, followed by the manufacturing sector with RM5.2 billion and the services sector with RM4.5 billion.

“For manufacturing-related investments from 2022 until the first quarter of 2023, Sarawak has approved RM9.6 billion for 87 projects,” he said when delivering the winding-up speech for his ministry at the Sarawak State Assembly here today.

Awang Tengah said that among the major manufacturing projects approved within the period were electrical and electronic products with RM6.29 billion investment.

“The (manufacturing) sector contributed RM37.2 billion or 28.4 per cent of Sarawak’s economy and employed more than 167,000 people in 2021,” he said.

According to Awang Tengah, Sarawak’s total trade last year increased 43.9 per cent to RM217.2 billion from RM150.9 billion in 2021, which also resulted in a trade surplus increase of 67.3 per cent to RM88.2 billion, as compared to RM52.7 billion in 2021.

“Total exports increased 50 per cent to RM152.7 billion in 2022 from RM101.8 billion in 2021 for items such as LNG (liquefied natural gas), palm oil, crude oil and aluminium,” he said.

Awang Tengah said total imports increased 31.4 per cent to RM64.5 billion from RM49.1 billion in 2021 for the top import products such as chemical products, refined petroleum products, aluminium ores, motorcars and fertilisers.

“The top trading partners for Sarawak in 2022 were Japan, China, Peninsular Malaysia, South Korea, India, Australia and Singapore,” he added.

Source: Bernama