Sarawak offers cheap energy, land for investors
These are the attractions for foreign investment in the state, said Chief Minister Adenan Satem at an investment seminar.
KUCHING: Sarawak has moved from import substitution in the 1950s to industrialisation, said Chief Minister Adenan Satem at an investment seminar in the state capital, adding that “cheap energy and plenty of land is what we can offer”.
Speaking at the Asian Strategy Leadership Institute’s (ASLI) 3rd Sarawak Business and Investment Summit yesterday, the chief minister said the Murum Dam, following the Bakun and Batang Ai dams, plus more dams to come, will produce cheap electricity.
“Those are our attractions for foreign investment,” said Adenan in a keynote address, reported by the Borneo Post.
ASLI Co-Founder and CEO Michael Yeoh, who also spoke at the seminar themed, “Towards 2020: Accelerating Growth and Development”, urged Sarawak to focus on the four ‘Es’ and four ‘Is’ in the next phase of its development.
The four Es are enhancing economic competitiveness, education, energy and the environment, said Yeoh while adding that the Is are infrastructure, innovation, investment, and inclusive development.
“I believe these four Es and four Is are already the core focus points in the state’s agenda,” said Yeoh. “I hope these initiatives will be accelerated.”
Works Minister Fadillah Yusof noted in his speech, the state government has the Sarawak Socio-Economic Transformation Plan (SETP) for the 2016-2030 period.
He listed the plan as covering roads, airports, ports, water, electricity, telecommunications, information and technology (ICT), healthcare, and education.
“These are essential to attract private investments,” said Fadillah.
Already, he said, the Federal Government has approved three bridges and a flyover. The bridges will be in Igan, Rambungan and Batang Lupar while the flyover will be in Medan Jaya.
“These are estimated to cost RM1.55 billion,” he said. “These four projects are expected to begin by the end of next year.”
Elsewhere, he said, Short Take-off Landing (STOL) airstrips and the Miri airport will be upgraded, and a new RM341 million airport will be built in Mukah. “The new airport in Mukah will replace the existing STOL,” he said. “It will cater for larger aircraft.”
Getting into details on the dam projects mentioned by Adenan, the Works Minister said 12 hydroelectric dams will connect the Sarawak Corridor of Renewable Energy (SCORE) region from Tanjung Manis to Samalaju.
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“This is an opportunity for the private sector to invest in sustainable growth,” said Fadillah. “It will create employment and generate income for the state, besides providing opportunities for investors.”