UAE tops Sarawak foreign investment

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Datuk Amar Awang Tengah Ali Hasan, Sarawak’s State Industrial Development Minister

Malaysia’s largest state, Sarawak, attracted the highest value of foreign direct investment of 3.75 billion ringgit ($1.23 billion) in Malaysia in the first eight months of this year.

The major sources of FDI came from the United Arab Emirates at 2.65 billion ringgit, Norway at 912 million ringgit and China at 167 million ringgit.

State Industrial Development Minister Datuk Amar Awang Tengah Ali Hasan said today the figure placed the state ahead of Johor with 2.34 billion ringgit and Terengganu with 2.24 billion ringgit.

“This is a testimony of the Barisan Nasional government’s success in promoting Sarawak as the preferred investment destination,” the minister said.

He added that the FDI value represented 80 per cent of the total capital investment approved in Sarawak between January and August this year at 4.68 billion ringgit.

He said the total capital investments received were for the commencement of 40 projects which are expected to create more than 2,000 job opportunities.

In attracting the FDI, he said Sarawak not only had to compete with neighbouring countries which had more natural resources to offer and a lower cost of production, but also with other Malaysian states.

He said most of the investments were for trigger industries which would create numerous employment and business opportunities for local small and medium enterprises.

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Reading Time: 1 minute

Datuk Amar Awang Tengah Ali Hasan, Sarawak’s State Industrial Development Minister

Malaysia’s largest state, Sarawak, attracted the highest value of foreign direct investment of 3.75 billion ringgit ($1.23 billion) in Malaysia in the first eight months of this year.

Reading Time: 1 minute

Datuk Amar Awang Tengah Ali Hasan, Sarawak’s State Industrial Development Minister

Malaysia’s largest state, Sarawak, attracted the highest value of foreign direct investment of 3.75 billion ringgit ($1.23 billion) in Malaysia in the first eight months of this year.

The major sources of FDI came from the United Arab Emirates at 2.65 billion ringgit, Norway at 912 million ringgit and China at 167 million ringgit.

State Industrial Development Minister Datuk Amar Awang Tengah Ali Hasan said today the figure placed the state ahead of Johor with 2.34 billion ringgit and Terengganu with 2.24 billion ringgit.

“This is a testimony of the Barisan Nasional government’s success in promoting Sarawak as the preferred investment destination,” the minister said.

He added that the FDI value represented 80 per cent of the total capital investment approved in Sarawak between January and August this year at 4.68 billion ringgit.

He said the total capital investments received were for the commencement of 40 projects which are expected to create more than 2,000 job opportunities.

In attracting the FDI, he said Sarawak not only had to compete with neighbouring countries which had more natural resources to offer and a lower cost of production, but also with other Malaysian states.

He said most of the investments were for trigger industries which would create numerous employment and business opportunities for local small and medium enterprises.

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