Sarawak Projects US$7 Bln Investments Through Strategic Cooperation With Global Players -- Abang Johari

KUCHING, Dec 11 (Bernama) -- Sarawak continues to strengthen its position as a leader in green economy in the region with a projected investment potential of US$7 billion (RM28.7 billion) within 10 years as a result of strategic collaborations with international industry players.

Sarawak Premier Tan Sri Abang Johari Tun Openg said the projection was driven by the signing of memoranda of understanding (MoUs) between Petroleum Sarawak Bhd (PETROS), China Jiangsu International Economic Technology Cooperation Group Ltd (CJI) and seven major companies from China which expressed their commitment to the development of the Kuching Low Carbon Hub (KLCH).

The Sarawak Public Communications Unit (UKAS) quoted Abang Johari as saying the interest from the companies reflects confidence in the potential of KLCH as a global low-carbon industrial hub.

“An investment of this magnitude will create many new job opportunities, especially high-skilled jobs, in line with efforts to increase household income,” he said in a statement today.

The MoU signing ceremony took place at the CJI headquarters in Nanjing, China today, where Abang Johari also witnessed the signing of the Framework Agreement between PETROS and CJI before the signing of the seven MoUs.

Abang Johari was also quoted as saying that the large-scale investment injection would increase Sarawak's Gross Domestic Product (GDP), with a target of reaching RM282 billion by 2030.

“With this investment, plus other investments that are currently and will be entering Sarawak, I am confident that we can achieve that target,” he said.

UKAS said the collaboration between PETROS and CJI encompasses human capital development through knowledge transfer, technical training and local talent development through industrial training programmes as well as educational collaboration.

“Perhaps in the third year of study, they (Sarawak technical students) can be sent here (Nanjing) as industrial trainees. When this industry operates in Sarawak, they will absorb these students as technical workers. This will bring many benefits to Sarawak,” he added.

-- BERNAMA