KUCHING: The framework for the Sarawak Investment Policy is expected to be completed and presented to the state cabinet sometime this year, said Deputy Premier Datuk Amar Awang Tengah Ali Hasan.
He said the policy, which has been in progress since last year, aims to ensure that Sarawak continues to be a competitive and sustainable investment destination.
“The investment policy is already in place, but we aim to further enhance it, as well as determine the key sectors that will be prioritised under this policy.
“In terms of technology, we want any form of investment carried out in Sarawak to incorporate high technology.
“Because one thing we must consider is that our focus is on environmental sustainability,” he said this when met by reporters after attending the Ministry of International Trade, Industry and Investment (MINTRED) Mandate Ceremony at 56 Hotel here today.
On the Sarawak Entrepreneurship Policy, Awang Tengah also said MINTRED is making improvements to encourage the development of small, micro, and medium enterprises (SMEs).
“We recognise that this is a crucial sector, as it forms the backbone of the economy and provides significant employment opportunities for small and medium-scale entrepreneurs.
“For this reason, we have engaged with various sectors to explore ways to improve the ecosystem and enhance entrepreneurship,” he added.
Awang Tengah stressed that MINTRED is collaborating with the World Bank on the development of the entrepreneurship policy.
“Similar to the investment policy, once it is completed, we will present it to the state’s cabinet, and hopefully, we can expedite its implementation as soon as possible,” he added.
Earlier in his speech, Awang Tengah said that from 2021 to 2024, the Sarawak government, through MINTRED, has assisted over 89,900 entrepreneurs with aid amounting to RM226 million through various programs.
The objectives of the Sarawak Investment Policy are, enhancing a compelling investment proposition, creating a strong innovation ecosystem, forming robust partnerships across stakeholders, and, promoting priority sectors.
Meanwhile, the Sarawak Entrepreneurship Policy, which will be implemented under the 13th Malaysia Plan (13MP), aims to, enhance the competitiveness, resilience, and sustainability of SMEs, promote innovation and technology adoption among SMEs, facilitate access to finance, markets, and business services for SMEs, encourage entrepreneurship and foster a conducive ecosystem for SME development, and promote SME participation in local and global value chains.
Also present at the ceremony were Deputy Minister Datuk Malcolm Mussen Lamoh, MINTRED permanent secretary Dzulkornain Masron and advisor Datuk Seri Mohd Naroden Majais, and chief executive officer of InvestSarawak Timothy Ong.
