Sarawak eyes $3b foreign investment

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Sarawak’s Chief Minister Taib bin Mahmud gives his keynote speech at the Inside Investor Forum Asia 2012

Malaysia’s biggest state, Sarawak, is targeting foreign direct investments of $3 billion, Chief Minister Pehin Sri Haji Abdul Taib bin Mahmud told Dubai-based Gulf Business magazine, without giving a timeframe for the cash inflow.

Taib said that he particularly expects Qatar to invest into palm oil, aquaculture and aluminum projects in Sarawak. The statement was given after Taib met with Qatar’s Prime Minister Sheikh Hamad bin Khalifa Al Thani and other top officials, among them Sheikh Faisal bin Qassim Al Thani, Chairman of the Qatari Businessmen Association, at the Inside Investor Forum Asia 2012 in Doha.

Taib added that he targets a 5 per cent GDP growth in Sarawak in 2012, which is slightly above the growth rates for Malaysia expected by the World Bank (4.7 per cent) and the Asian Development Bank (4.6 per cent).

At his meeting with Sheikh Hamad, Taib also pointed at opportunities in the halal industry in Sarawak.

He said in his keynote speech that Sarawak maintains an open-door policy for global investors to participate in its long-term development especially through the Sarawak Corridor of Renewable Energy (SCORE), adding that the state offers vast tracts of land suitable for development. The state government has designated an area of 77,000 hectares for a halal hub alone and welcomes companies dealing with food production, pharmaceuticals, living essentials, life sciences and biotechnology to participate in it.

In response to a question at a press conference held at the Inside Investor Forum Asia 2012, Taib told Inside Investor  that Sarawak is pushing ahead with the proposed launch of a new airline, a subsidiary of Malaysia Airlines (MAS), to improve air accessibility to Sarawak and Sabah.

“Both states would like to have routes that allow them to land in Hong Kong, Singapore, Kuala Lumpur and other cities where they can find feeding points from Kuching, Kota Kinabalu and Brunei,” Taib said.

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Reading Time: 2 minutes

Sarawak’s Chief Minister Taib bin Mahmud gives his keynote speech at the Inside Investor Forum Asia 2012

Malaysia’s biggest state, Sarawak, is targeting foreign direct investments of $3 billion, Chief Minister Pehin Sri Haji Abdul Taib bin Mahmud told Dubai-based Gulf Business magazine, without giving a timeframe for the cash inflow.

Reading Time: 2 minutes

Sarawak’s Chief Minister Taib bin Mahmud gives his keynote speech at the Inside Investor Forum Asia 2012

Malaysia’s biggest state, Sarawak, is targeting foreign direct investments of $3 billion, Chief Minister Pehin Sri Haji Abdul Taib bin Mahmud told Dubai-based Gulf Business magazine, without giving a timeframe for the cash inflow.

Taib said that he particularly expects Qatar to invest into palm oil, aquaculture and aluminum projects in Sarawak. The statement was given after Taib met with Qatar’s Prime Minister Sheikh Hamad bin Khalifa Al Thani and other top officials, among them Sheikh Faisal bin Qassim Al Thani, Chairman of the Qatari Businessmen Association, at the Inside Investor Forum Asia 2012 in Doha.

Taib added that he targets a 5 per cent GDP growth in Sarawak in 2012, which is slightly above the growth rates for Malaysia expected by the World Bank (4.7 per cent) and the Asian Development Bank (4.6 per cent).

At his meeting with Sheikh Hamad, Taib also pointed at opportunities in the halal industry in Sarawak.

He said in his keynote speech that Sarawak maintains an open-door policy for global investors to participate in its long-term development especially through the Sarawak Corridor of Renewable Energy (SCORE), adding that the state offers vast tracts of land suitable for development. The state government has designated an area of 77,000 hectares for a halal hub alone and welcomes companies dealing with food production, pharmaceuticals, living essentials, life sciences and biotechnology to participate in it.

In response to a question at a press conference held at the Inside Investor Forum Asia 2012, Taib told Inside Investor  that Sarawak is pushing ahead with the proposed launch of a new airline, a subsidiary of Malaysia Airlines (MAS), to improve air accessibility to Sarawak and Sabah.

“Both states would like to have routes that allow them to land in Hong Kong, Singapore, Kuala Lumpur and other cities where they can find feeding points from Kuching, Kota Kinabalu and Brunei,” Taib said.

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