NANJING: Sarawak is poised to attract USD7 billion in green-economy investments over the next decade following the signing of seven Memoranda of Understanding (MOUs) between Petroleum Sarawak Bhd (PETROS), China Jiangsu International Economic Technology Cooperation Group Ltd (CJI), and various industry players.
Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said the investment inflow driven by the development of the Kuching Low-Carbon Hub (KLCH) will significantly strengthen Sarawak’s economy.
He emphasised that such a large capital injection will have transformative impacts on Sarawak’s economy.
“Today (Dec. 11), seven MOUs were signed with companies in the green economy, which will bring in a potential USD7 billion in investments within ten years. This level of investment will create many high-skilled job opportunities and will help raise the income levels of our households.
“With this injection into our economy, it will also elevate our Gross Domestic Product (GDP) and with other investments coming into Sarawak, I believe we can achieve our RM282 billion by 2030,” he said during a press conference here.
Abang Johari said the KLCH is strategically designed to attract industries seeking low-carbon and green energy solutions.
He also said the KLCH is supported by Sarawak’s strengths in gas availability, water resources, renewable hydropower, and potential for carbon storage.
“These strengths make Sarawak a competitive destination for global industry players, especially those targeting markets in ASEAN, East Asia and beyond that require low-carbon or green products,” he said.
At the same time, Abang Johari lauded PETROS on their successful collaboration with CJI as it has potential to further elevate Sarawak as an important area in the ASEAN region.
“Our aim is to be the star of ASEAN, especially with our various strengths in natural resources,” he added.
