Thailand, Japan Investors Eye RM1 Billion Petrochemical Investment In Sarawak
KUCHING: Two investor groups based in Thailand and Japan have expressed readiness to invest up to RM1 billion in the production of petrochemical products, drawn by the state's advantages in low-carbon energy and oil and gas resources.
Sarawak Premier Datuk Patinggi Tan Sri (Dr) Abang Abdul Rahman Zohari Tun Datuk Abang Openg said the investors' interest was identified through his meetings with the two groups during a visit to Bangkok, Thailand, last month.
"These investors recognise Sarawak's strengths in low-carbon energy and the state's oil and gas resources, and they are very keen to invest up to RM1 billion to produce petrochemical products," he said.
He said this in his speech at the Grand Parade and Rally in conjunction with the Celebration of the 80th Birthday of the Sarawak Governor at Padang Merdeka on Saturday.
In a related development, Datuk Patinggi Abang Zohari also revealed that SoftBank founder Masayoshi Son, together with representatives of the global technology giant, had held discussions in Sarawak earlier, reflecting international investors' interest in the state's economic potential.
However, he stressed that the benefits of incoming investments must also be felt by local companies, particularly in engineering, maintenance, logistics, manufacturing technology and professional services.
According to him, stronger links between investors and local companies are important to ensure that investment activities generate spillover effects for the state's economy, including creating job opportunities and raising household incomes.
"Investments flowing into Sarawak must be linked with local companies in engineering, maintenance, logistics, manufacturing technology and professional services to generate the local economy," he said. -UKASnews
