Sarawak offers numerous opportunities for investment with its vast natural resources, high quality infrastructure facilities, and stable political and social landscape as well as industrial relations, among many others contributing factors.
These encourage supply chain collaborations in economic sectors, which investors such as OCIM Sdn Bhd – a subsidiary of OCI Holdings of South Korea and a representative in Malaysia, as part of a leading global green energy and chemical company – can take full advantage of in their global expansion and partnerships in the State.
It is here where technology transfer is deemed crucial, noted the Premier of Sarawak YAB Datuk Patinggi Tan Sri (Dr) Abang Haji Abdul Rahman Zohari bin Tun Datuk Abang Haji Openg, especially as multinational companies recruit local talents to manage and contribute together in the production of global products and services.
“For Sarawakians, you must also work hard…. We as the host country must upgrade our skills so that we can help together with (local and international investors) in Sarawak and perhaps learn the culture.
“In other words, there should be cultural exchange that will enhance our understanding, and that is why tonight is a convergence of culture between the Koreans and Sarawakians,” he said during the Malaysia-Korea Charity Gala Night that was held in Kuching on 20 January 2024.
Themed “Green Together”, the event was co-organised by OCIM Sdn Bhd and Sarawak Economic Development Corporation (SEDC) in their joint efforts towards sustainability and supporting the needing society in both South Korea and Malaysia.
In his keynote address, the Premier also spoke of the importance of socio-economic development through renewable and sustainable approaches in tackling climate change and mitigating carbon emissions, applauding Sarawak and South Korea for their green energy pursuits.
To OCIM, he expressed his appreciation to the company for being “a good corporate citizen of Sarawak” that was open to working with Sarawak to support the needy or underprivileged.
“That should be our approach… While your investment need to have good return on investment or ROI, you play your part to help those who are less fortunate,” he added.
The Malaysia-Korea Charity Gala Night saw the Premier witnessing the symbolic handing over of funds that had been raised for three Sarawak-based charity organisations:
- Yayasan Ilmu Sarawak to provide scholarships to study in South Korea and Sarawak;
- Green Generation to champion the creation of a greener tomorrow and promote green energy and education; and
- Association for the Welfare of Intellectually Disabled Children (PERKATA) Sarawak to help improve the care of mentally and physically challenged children and families.
The event which was attended by around 500 guests were also graced with performances by guest artists, namely Jaclyn Victor, Kim Da Hyun, Alu-Alu Band from Kampung Budaya Sarawak, OCI Dream Ensembles and Nanta Group.
The Latest on Investment in Sarawak
From January to September 2023, Sarawak secured (in preliminary figures) RM16.67 billion worth of investments, with the manufacturing sector contributing 68 per cent of total investment; the primary sector 19 per cent; and the services sector 13 per cent.
These investments, according to Deputy Premier and Minister for International Trade, Industry and Investment YB Datuk Amar Haji Awang Tengah Ali Hasan, were expected to create over 4,500 job opportunities.
“Quality investment is crucial to create a complex supply chain and a right ecosystem for a globally competitive economy.
“Sarawak is now actively attracting high-value, high-growth investments that can catapult Sarawak economy to achieve high income status by 2030,” he said in his winding up speech during the Sarawak State Legislative Assembly sitting in November 2023.
These investments include those that support the State’s development agenda, especially in areas concerning the green and digital economy as it strives to capitalise upon its strong renewable energy potential in order to achieve its net zero commitments by 2050.
“Sarawak is now focusing on promoting digital and green economy, leveraging on our renewable energy and decarbonisation solutions such as carbon trading and innovative climate mitigation and adaptation technology.
“We aspire to be a regional leader in innovation and technology-based economy,” the Deputy Premier added.
Reference:
Sarawak Government. State Legislative Assembly (29 November 2023). Second Meeting of the Second Session, Nineteenth Sarawak State Legislative Assembly Debates. (Hansard). https://duns.sarawak.gov.my/web/subpage/webpage_view/118
Sarawak Government. (n.d.). Investors. The Official Portal of Sarawak Government. https://sarawak.gov.my/web/home/article_view/0/212
Sarawak-Korea Bilateral Cooperation Continues to Strengthen. (2024, January 21). Unit Komunikasi Awam Sarawak. https://ukas.sarawak.gov.my/2024/01/21/sarawak-korea-bilateral-cooperation-continues-to-strengthen/
Shikin, L. (2024, January 21). Abang Johari serenades donors after RM183,270 raised during Malaysia-Korea charity dinner. DayakDaily. https://dayakdaily.com/abang-johari-serenades-donors-after-rm183270-raised-during-malaysia-korea-charity-dinner/
