Sarawak attracts 13 projects worth RM4.6b under ICA in 2016

KUCHING: Sarawak attracted 13 projects worth RM4.6 billion under the Industrial Co-ordination Act 1975 (ICA) last year, the third highest after Johor, which secured RM26.1 billion, and Selangor, which drew RM7.8 billion, the State Assembly was told.
Deputy Chief Minister Datuk Amar Awang Tengah Ali Hasan (pix) said of the amount, RM2.4 billion was earmarked for basic metal product projects, RM1.61 billion for electronic and electrical projects, and RM529 million for chemical and chemical product projects.
The projects are expected to create more than 4,000 jobs in Sarawak, he said when winding up debate at the 18th State Assembly here today.
Awang Tengah, who is also State industrial and Entrepreneur Development Minister, said besides the investment under the ICA, Sarawak also received a proposed investment for the Petronas Floating LNG1 project worth RM6.4 billion (in 2016), which was awaiting approval from the Malaysian Investment Development Authority's (MIDA).
He said last year too, the state Industrial Coordination Committee (ICC) approved 52 projects totalling RM129 million, mainly for non-metalic mineral products (concrete block, marble and granite), wood-based products, services (warehouse, storage) chemicals, and chemical products, basic metal products (metal roofing, wires) food manufacturing and others.
These projects are expected to generate about 1,100 jobs, he added.
Meanwhile, Awang Tengah said the state ICC supported 13 projects worth RM7.3 billion for manufacturing licences under the ICA this year.
On the Sarawak Corridor of Renewable Energy, he said it had so far attracted 22 projects worth RM33.64 billion.
Awang Tengah said it was not by chance that Sarawak remained a preferred investment destination and maintained its top three position in the country over the years.
'Instead, investors are attracted to Sarawak not because of our abundant resources alone, but more importantly because of our political stability, business-riendly policies, efficient and effective delivery system, social harmony, as well as our young and skilled workforce,' he said. — Bernama