Sarawak beat Penang and Selangor in new investment – RM8.17billion

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KOTA SAMARAHAN: Sarawak attracted new investments worth RM8.17bil last year, almost double the combined new investments for the more developed states of Penang and Selangor.

State Industrial Development Minister Datuk Amar Awang Tengah Ali Hasan said on Wednesday the Malaysian Investment Development Authority (MIDA) 2011 report showed RM4.48bil in new investments for Penang and RM4.38bil for Selangor.

“Sarawak’s success is due to the presence of SCORE (Sarawak Corridor for Renewable Energy) amid an uncertain global economy,” he said in his speech at the simultaneous launch of the state-level Small and Medium Enterprise (SME) Week and trade and industrial investment promotion programme for Samarahan division here.

Awang Tengah said Sarawak’s political stability had created a good investment climate and raised the confidence of big international companies to begin operations in the state.

SCORE has attracted nearly RM30bil in investments since its launch four years ago and provides opportunities for local SMEs in support industries, he said.

“It’s now time for local SMEs to step forward and grab the opportunities afforded by the huge investments in the state,” he added.

At the launch, Awang Tengah witnessed the signing of a MoU between the state government, represented by his ministry’s Permanent Secretary Datuk Liaw Soon Eng, and SME Bank, represented by its Managing Director Datuk Mohd Razif Mohd Yunus.

Under the MoU, both parties would take steps to encourage local SMEs operating in non-industrial sites to sites planned by the state government. – BERNAMA