10 key industries to fuel SCORE investments
The Sarawak government is targeting RM200 billion worth of investments for its SCORE project from overseas and domestic players, identifying 10 main industries that can offer rich returns for serious investors.
SCORE (Sarawak Corridor of Renewable Energy) is the Sarawak government’s flagship economic development programme to lift the state’s economy out of its agro-based comfort zone and embrace diverse industries in the quest to achieve high-income status by 2020.
Sarawak’s Chief Minister, Pehin Sri Haji Abdul Taib Mahmud is targeting RM200 billion worth of investments from the private sector over the next 20 years. As of September 2011, SCORE had secured 14 projects with a total approved investment of RM28.55 million, well within projections.
SCORE has galvanised the investment spirit of major companies in Sarawak and Malaysia while alerting overseas players about the business opportunities available in the country’s largest state. SCORE’s key zones are Samalaju Industrial Park, which is dedicated to heavy and energy-intensive industries, and Tanjung Manis Halal Hub, a vast expanse of land geared towards addressing the global food security crisis, agriculture and other halal-oriented services.
The backbone of SCORE is the power being produced to drive the energy-intensive industries, especially the big manufacturers who have set up plants in Samalaju. The Bakun Dam, one of the largest in Asia, will generate 2800MW of power once fully complete while other hydro-powered stations are being planned across the SCORE landscape.
Upgraded ports, expanded road networks and a new cross-SCORE rail link will improve logistics and accessibility. The Sarawak government has identified 10 main industries that are ripe for investment from overseas interests, including potential Middle East investors.
These are: aluminium, glass, oil-based industries, steel, tourism, marine engineering, timber-based industries, livestock, fishing and aquaculture, and palm oil.
Aluminium is proving to be a popular product with global demand expected to rise four per cent. Five companies representing three major aluminium investments have already made their way to Samalaju, including solo project by local company Press Metal Bintulu, who are joined by ventures involving Cahya Mata Sarawak Bhd (CMSB) and Rio Tinto Alcan, and the Aluminium Corporation of China with a Malaysian consortium.
The investments in aluminium are valued at RM16.5 billion and are expected to create jobs for 5,600 people.
According to SCORE data, there are two projects for polycrystalline silicon worth a total of RM8.77 billion with potential employment for more than 1,000.
Five projects worth RM1.18 billion are underway for the production of silicone, manganese, ferro silicone and other ferro alloys, creating more than 2000 jobs.
In terms of halal, agro-based and biotechnology industries, TMHH has so far attracted two projects worth RM2.1 billion, including a major investment from Taiwan’s Sea Party International for aquaculture. More than 1,300 jobs will result from these investments.
Tourism is one of the high-profile industries the government is promoting in terms of investment opportunities. More hotels and resorts are sprouting across the state as Sarawak tries to leverage on its pristine rainforest, natural beauty and exotic wildlife to encourage eco-tourism.
Of the RM28.55 billion so far pledged, 18.5 per cent (five projects) are domestic investments, 47.53 per cent (3) represents joint ventures between local and foreign companies while 33.97 (6) per cent are exclusively foreign. All projects are expected to generate more than 10,100 jobs.
The Sarawak government is targeting RM200 billion worth of investments for its SCORE project from overseas and domestic players, identifying 10 main industries that can offer rich returns for serious investors. SCORE (Sarawak Corridor of Renewable Energy) is the Sarawak government’s flagship economic development programme to lift the state’s economy out of its agro-based comfort zone and embrace diverse industries in the quest to achieve high-income status by 2020. Sarawak’s Chief Minister, Pehin Sri Haji Abdul Taib Mahmud is targeting RM200 billion worth of investments from the private sector over the next 20 years. As of September 2011, SCORE had...
The Sarawak government is targeting RM200 billion worth of investments for its SCORE project from overseas and domestic players, identifying 10 main industries that can offer rich returns for serious investors.
SCORE (Sarawak Corridor of Renewable Energy) is the Sarawak government’s flagship economic development programme to lift the state’s economy out of its agro-based comfort zone and embrace diverse industries in the quest to achieve high-income status by 2020.
Sarawak’s Chief Minister, Pehin Sri Haji Abdul Taib Mahmud is targeting RM200 billion worth of investments from the private sector over the next 20 years. As of September 2011, SCORE had secured 14 projects with a total approved investment of RM28.55 million, well within projections.
SCORE has galvanised the investment spirit of major companies in Sarawak and Malaysia while alerting overseas players about the business opportunities available in the country’s largest state. SCORE’s key zones are Samalaju Industrial Park, which is dedicated to heavy and energy-intensive industries, and Tanjung Manis Halal Hub, a vast expanse of land geared towards addressing the global food security crisis, agriculture and other halal-oriented services.
The backbone of SCORE is the power being produced to drive the energy-intensive industries, especially the big manufacturers who have set up plants in Samalaju. The Bakun Dam, one of the largest in Asia, will generate 2800MW of power once fully complete while other hydro-powered stations are being planned across the SCORE landscape.
Upgraded ports, expanded road networks and a new cross-SCORE rail link will improve logistics and accessibility. The Sarawak government has identified 10 main industries that are ripe for investment from overseas interests, including potential Middle East investors.
These are: aluminium, glass, oil-based industries, steel, tourism, marine engineering, timber-based industries, livestock, fishing and aquaculture, and palm oil.
Aluminium is proving to be a popular product with global demand expected to rise four per cent. Five companies representing three major aluminium investments have already made their way to Samalaju, including solo project by local company Press Metal Bintulu, who are joined by ventures involving Cahya Mata Sarawak Bhd (CMSB) and Rio Tinto Alcan, and the Aluminium Corporation of China with a Malaysian consortium.
The investments in aluminium are valued at RM16.5 billion and are expected to create jobs for 5,600 people.
According to SCORE data, there are two projects for polycrystalline silicon worth a total of RM8.77 billion with potential employment for more than 1,000.
Five projects worth RM1.18 billion are underway for the production of silicone, manganese, ferro silicone and other ferro alloys, creating more than 2000 jobs.
In terms of halal, agro-based and biotechnology industries, TMHH has so far attracted two projects worth RM2.1 billion, including a major investment from Taiwan’s Sea Party International for aquaculture. More than 1,300 jobs will result from these investments.
Tourism is one of the high-profile industries the government is promoting in terms of investment opportunities. More hotels and resorts are sprouting across the state as Sarawak tries to leverage on its pristine rainforest, natural beauty and exotic wildlife to encourage eco-tourism.
Of the RM28.55 billion so far pledged, 18.5 per cent (five projects) are domestic investments, 47.53 per cent (3) represents joint ventures between local and foreign companies while 33.97 (6) per cent are exclusively foreign. All projects are expected to generate more than 10,100 jobs.
