‘Political stability, unity in Sarawak key to attracting foreign investors’

KUCHING: Political stability and unity in Sarawak would give foreign investors confidence over their investment in the state, said Deputy Chief Minister Datuk Amar Awang Tengah Ali Hasan.

Speaking during the ‘Sarawak Bumiputera Entrepreneurs Awards’ event here on Sunday night, he said the state has for the past six years been ranked among the top three investment destinations in the nation, adding he is confident the current political stability and unity will enable Sarawak to top the rankings in the years to come.

“So we must make sure we are stable and united together to support Chief Minister Datuk Patinggi Abang Johari Tun Openg and the Gabungan Parti Sarawak-led government,” he said.

Awang Tengah, who is also International Trade and Industry, Industrial Terminal and Entrepreneur Development Minister, said he believed that investments in the steel, manufacturing and oil and gas sector, which are the leading industries in the state, will have greater spill-off effects on the rest of the economy, especially among the small and medium enterprises.

He pointed out that Sarawak offers favourable policies, comparative advantages in land, utilities such as water and electricity, and a young and professional workforce to potential investors.

“At the same time, industries will be set up in the rural areas together with other initiatives by the government, covering all districts in the state, to build the capacity of local entrepreneurs to start their own businesses.”

Furthermore, Awang Tengah – also Second Minister of Urban Development and Resources – noted that the Sarawak government is concentrating on developing small and medium enterprises as they undoubtedly form the economic backbone of the state and country.

He disclosed the state is working on a micro credit scheme in the near term for all qualified micro entrepreneurs in Sarawak.