Tuesday, June 28, 2011

DUN (Day Six): Sarawak registers 16 projects worth RM2.91 billion in Q1

Posted on June 28, 2011, Tuesday

KUCHING:  Sarawak registered 16 projects involving approved capital investments of RM2.91 billion for the first quarter of this year, State Industrial Development Minister Datuk Amar Awang Tengah Ali Hasan said today.

He said the investment amount, the second highest seen among the states after Johor (RM3.32 billion), included five projects with investment worth RM2.89 billion, approved by the Ministry of International Trade and Industry (MITI).

Another 11 projects amounting to RM22.9 million in investments were approved by the State Industrial Coordination Committee.

“The projects, which were predominantly in two main industries – basic metal products totalling RM2.87 billion and wood-based products totalling RM20.8 million – were expected to generate 1,262 employment opportunities,” he said in his winding-up speech at the state legislative assembly sitting at Petra Jaya here.

He said RM2.25 billion or 77 per cent of the total investment was derived from domestic investment while 655 million or 23 per cent came from foreign direct investment.

The major sources of foreign investments came from Hong Kong with an investment of RM180 million in basic metal industries followed by the British Virgin Islands which invested RM6.2 million in the wood-based industries.

In 2010, Sarawak reported a total of RM3.95 billion in investments  including RM3.55 billion from foreign investments and the remaining RM388 million from domestic investment, Awang Tengah said.

Based on the approved projects, Awang Tengah said, 7,000 job opportunities were created in Sarawak last year. – Bernama

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