The Malaysian Investment Development Authority (MIDA) has approved a total of 1,120 manufacturing projects with investments worth RM137.3 billion in Sarawak as at September 2018. These projects have created over 175,000 job opportunities, mainly in the natural gas, chemical and chemical products, basic metal products, petroleum products (including petrochemicals) and electronics and electrical products sectors.
“Being the largest of all 13 states in Malaysia, there are certainly many reasons for companies to base their operations in Sarawak. There is already a strong presence of MNCs and large Local Corporations (LLCs) in the state. These companies, such as Petronas, OCIM, Longi, X-Fab and Press Metal, hold much promise for business collaborations and opportunities,” said Mr Zabidi Mahbar, Senior Executive Director of MIDA’s Strategic Planning and Development Division during the MIDA Invest Series: Unfolding States’ Business Potential held today at the MIDA Headquarters.
“MIDA has set-up a dedicated team namely the Investment Coordination Platform (ICP) to facilitate companies to grow their businesses and investment portfolio since last year. The unit works closely with equity and corporate advisory firms as well as local regulators and technology providers in assisting companies to conduct business-to-business matching, capital raising exercise through debt & equity, M&A, divestment and initial public listing or IPO. We urge all interested parties to discuss with MIDA on how they can be facilitated in these areas,” added Mr Zabidi.