KUCHING: Sarawak is strengthening its position as a key investment destination over the next five years, with a focus on attracting both foreign direct investment (FDI) and domestic direct investment (DDI).
Deputy Premier Datuk Amar Awang Tengah Ali Hasan said the state’s competitive edge lies in its clear policies, strategic location, and strong capabilities in renewable energy development supported by a robust ecosystem.
“Our target is clear — to transform Sarawak into a high-income and developed region, with Gross Domestic Product (GDP) reaching RM282 billion by 2030.
“The progress we have achieved so far is very encouraging. Sarawak recorded its highest-ever revenue in 2024 at RM14.2 billion, followed by RM13.5 billion the next year, bringing total revenue collection over two years to RM27.7 billion,” he said when officiating the TERAJU Aspirasi Outreach Sarawak 2026 programme at TEGAS Digital Village today (Apr 13) on behalf of Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.
Awang Tengah, who is also Minister of International Trade, Industry and Investment, said Sarawak is actively developing a modern industrial base and ecosystem to attract investors.
“By 2030, Sarawak is expected to generate at least 10,000 megawatts (MW) of renewable and green energy, mainly from hydropower, solar energy and biomass, complemented by gas turbine cycles.
“At least 70 per cent of the generation mix will come from renewable energy, especially hydropower. This will further strengthen our position as an investment hub,” he said.
He added that the state is also focusing on attracting high-technology and high value-added investments, which are expected to create high-paying jobs and expand economic opportunities.
Awang Tengah emphasised the importance of local company participation, particularly in supporting industries, to ensure inclusive and sustainable economic growth.
“With these strengths, the federal government has agreed to the development of the semiconductor industry, with Sarawak set to become one of the hubs. Similarly, aerospace-related economic activities will also be developed here,” he added.
