China’s investments in Sarawak reach RM19.4 billion, creating over 10,000 jobs

KUCHING: China has invested more than RM19.4 billion, mainly in solar, steel and wood-based manufacturing projects in Sarawak, leading to the creation of more than 10,000 jobs for the local population and spin-offs for the local economy.

Sarawak Premier Tan Sri Abang Johari Tun Openg said the investments from the Great Wall nation made a significant impact on the economic growth and development in this region.

“These investments have enhanced industrial capabilities while fostering sustainable development and innovation,” he said in his speech in conjunction with the Malaysia-China Summit 2024: Networking Engagement Series in Sarawak here today.

His speech was read by Sarawak Deputy Premier and International Trade, Industry and Investment Minister Datuk Amar Awang Tengah Ali Hassan.

Abang Johari said China is one of Sarawak’s key trading partners, with strong trade, investment and collaborative projects across sectors.

He said that in 2023, Sarawak’s exports to China, namely liquefied natural gas, edible oils and basic metal, were worth RM18.8 billion, while imports, namely machinery, manufactured goods and consumer products, amounted to RM9.9 billion.

“In fact, the economic collaboration between China and Sarawak continue to grow with China’s involvement in hydropower development, namely Bakun, Murum and Baleh, which supports our goal to be the Asean powerhouse,” he added.

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