CM: Sarawak top in FDI due to political stability
MIRI: The Sarawak government’s model of political stability and putting the wellbeing of its people first enabled the state to draw in the most foreign direct investment (FDI) into the country between January and September this year, said Chief Minister Datuk Patinggi Abang Johari Tun Openg.
He said this was contained in a recent report by UOB Global Economics and Market Research which ranked Sarawak top in overall manufacturing investment at RM15.8 billion, followed by Sabah (RM11.9) billion, Penang (RM10.6billion), Selangor (RM7.3 billion) and Johor (RM5.7billion).
“We should count our blessings when our state is stable. We have the most direct foreign investments (among all states) because we are stable.
“We have respect for each other and we are inclusive, and these are helping our economy to thrive,” he said when officiating at the earthbreaking ceremony of Federation of Orang Ulu Associations Sarawak Malaysia (Forum) Multipurpose Hall and Resource Centre, here yesterday.
Meanwhile, Bernama had reported Abang Johari saying that the Sarawak government was also in the process of reviewing the possibility of setting up a Sovereign Wealth Fund to ensure that the state’s funds would be managed more professionally.
“I have instructed my officers to review this matter and we have also looked at the Norwegian model. Norway has a sovereign fund from its resources for the country’s future,” he was quoted as saying.
The chief minister said however that it was premature to reveal details on the setting-up of the fund, but assured that it was one of the state government’s plans in managing surplus funds.
According to him, the state government is expecting an increase in revenue following successful negotiations with Petroliam Nasional Berhad (Petronas) in the exploration and production of oil and gas in Sarawak, in addition to the proceeds from the imposition of the state sales tax on petroleum products.
“My hope is for the people in Sarawak to benefit from the longterm policy of the Gabungan Parti Sarawak government through the returns derived from it,” he added.
Phase One of the RM25-million Forum building, located at Jalan Padang Kerbau, is expected to commence this month and complete within 18 months.
Among those present at the ceremony were State Legislative Assembly Deputy Speaker Dato Gerawat Gala who is also Forum adviser, state Transport Minister Datuk Lee Kim Shin, state Tourism, Arts and Culture Minister Datuk Abdul Karim Rahman Hamzah, Forum president Kennedy Chukpai Ugon who is also Murum assemblyman, assistant ministers and assemblymen.