MIRI – Sarawak has beat other states in drawing foreign direct investment (FDI) into Malaysia between January and September this year, potentially raking in RM15.8 billion.
Chief Minister Datuk Patinggi Abang Johari Openg noted this in reference to a UOB Financial Research and Markets report, which recently placed Sarawak ahead of other states in terms of attracting foreign investment during the period.
“We received a lot of foreign investment as we are stable; we live in harmony and respect one another. Our politics is stable and we have an inclusive policy, so when all these things are happening, our economy can move forward and everybody will benefit.”
He said this after officiating a ground breaking for the Orang Ulu Cultural centre construction project here today.
He said the positive situation in the state cannot be enjoyed at the federal level at the moment due to political parties still trying to disrupt the government.
Meanwhile, Abang Johari said the Sarawak government is also in the process of reviewing the possibility of setting up a sovereign wealth fund.
“I have instructed my officers to review this matter and we have also looked at the Norwegian model. Norway has a sovereign fund from its resources for the country’s future,” he said.
However, he said it was premature to reveal details on the establishment of the fund, “so suffice at this point to say that, it is one of the state government’s plans in managing surplus funds”.
He said the state government is expecting an increase in revenue following successful negotiations with national petroleum company Petronas in the exploration and production of oil and gas in Sarawak, in addition to proceeds from the imposition of sales tax on petroleum products.
“My hope is for the people in Sarawak to benefit from the long-term policies of the Gabungan Parti Sarawak government through returns derived from it.” – Bernama, December 15, 2020
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