Chief Minister YAB Datuk Patinggi Tan Sri (Dr) Haji Adenan Haji Satem (fifth left) with (from left) Director of State Planning Unit (SPU) YBhg Datu Haji Ismawi Haji Ismuni, State Secretary YB Tan Sri Datuk Amar Haji Mohamad Morshidi Abdul Ghani, Minister of Infrastructure Development and Communications YB Dato’ Sri Michael Manyin Jawong and Minister of Finance (II) & Minister of Local Government and Community Development YB Dato Sri Wong Soon Koh joining hands with representatives from companies from China, including Managing Director of China State Construction Engineering Corporation Ltd Lu En (centre), Chairman of Blue Ocean Energy Co., Ltd Wu Xingjun (fourth right) and Chairman of Blue Energy Technology Co., Ltd Wang Bing (third right) following the signing ceremony held at Hilton Hotel, Kuching on Wednesday, 2 December 2015.
These MoUs are expected to boost bilateral economic and trade relationships between the State Government and China, with the three China companies having plans to bring in new investments in infrastructure, renewable energy and waste management.
As of last year, China is Sarawak’s fourth largest trading partner, contributing approximately eight percent of the State’s total trade.
The country is currently investing in transport equipment, components and accessories in the State.
In the meantime, Sarawak is expected to experience positive growth rate of between four to five percent per year in the next five years with ongoing industrialisation in the State through Sarawak Corridor of Renewable Energy (SCORE).
With ratings of A- (stable outlook) by Standard & Poor’s and A3 (stable outlook) by Moody’s International Credit Rating Agencies, plus long period of political stability and social harmony, the State is presenting itself as an attractive investment destination for foreign investors, hence contributing to the aforementioned growth rate.
The signing ceremony itself was witnessed by the Chief Minister, with the State Secretary of Sarawak and YBhg Datu Ismawi of SPU representing the State Government.
