KOTA SAMARAHAN: Sarawak’s ability to harness renewable energy is seen as a key strategic advantage in sustaining investment momentum, even as global geopolitical uncertainty persists, including the ongoing crisis in the Middle East.

Sarawak Deputy Premier Datuk Amar Awang Tengah Ali Hasan said the current fragile global climate has inevitably impacted global supply chains and energy costs, but Sarawak remains in a comparatively stronger and more stable position than many other regions.

“Conditions at present are indeed challenging and have affected economies worldwide, including supply chains and energy costs.

“Nevertheless, we will continue to build on our strengths, particularly in renewable energy, which serves as Sarawak’s strategic advantage,” he said.

He said this when met at the SMD Semiconductor Berjarah Raya Aidilfitri event held at La Promenade Mall on Monday.

According to Datuk Amar Awang Tengah, last year’s total foreign direct investment (FDI) and domestic direct investment (DDI) exceeded RM16 billion across main sectors such as services and manufacturing.

He added that over the past five years, approved investments have surpassed RM116 billion, with a substantial portion already realised or currently being implemented.

Elaborating further, the Minister for International Trade, Industry and Investment stressed that emphasis will continue to be placed on high-impact sectors, including high-technology industries and semiconductors, in line with efforts to attract more quality investments into Sarawak.

“Many investors are drawn to Sarawak due to our advantages in renewable energy, particularly hydropower, as well as our strategic location and conducive ecosystem,” he said.

At the same time, he noted that a portion of investments in the energy sector, including solar energy, originates from Asian countries such as China, Japan and South Korea, alongside participation from investors in the Middle East, including Abu Dhabi.

The Deputy Premier explained that most investors involved are not directly affected by the current geopolitical tensions, thus ensuring that investment commitments remain steady.

“We will continue to promote Sarawak as a competitive investment destination by capitalising on our existing strategic strengths, especially in the energy sector and high-value industries,” he added.

He further emphasised that the continued development of the oil and gas sector, alongside alternative energy, will further reinforce the state’s economic resilience in navigating global challenges.

Also present were Deputy Minister for Energy and Environmental Sustainability Datuk Dr Hazland Abang Hipni, Sarawak Financial Secretary Dato Sri Dr Wan Lizozman Wan Omar, Deputy Sarawak Attorney General Datu John Wayne Chamberlin Sirau, Chief Executive Officer of SMD Shariman Jamil, heads of departments, as well as other invited guests. -UKASnews