Sarawak New Economic Frontier, Japanese Investors Told

KUCHING (Sarawak, Malaysia), July 3 (Bernama) -- East Malaysia state of Sarawak is certainly the critical new frontier for the further growth of the Malaysian economy, said Chief Minister Abdul Taib Mahmud. Taib, who is also state finance minister, said politically, Sarawak has been stable for a long time and the government has worked hard to maintain that, adding that investors wanted political stability, a strong government, legal certainty and economic opportunity. "I can assure you that Sarawak can offer all those. I have ensured that the government and its machinery will continuously work hard to maintain the state's political stability and promote and economic growth," he said. Taib said this at a seminar on Investment and Business Opportunities in Tanjung Manis Halal Hub Sarawak held in Tokyo on Tuesday. The text of his speech was issued by the Sarawak Information Department here. Sarawak, he said, currently has a strong economy and has been able to achieve a steady average annual growth rate of five per cent and gross domestic product per capita income of over US$12,500. Taib said among the early Japanese companies investing in Sarawak were Taiyo Yuden and Toko Electronic and more recently, four Japanese companies, Tokuyama, Sojitz Corp, JFE Shoji Trade Corp and Japan Silicon with total investments of US$2.3 billion (RM7.28 billion), had received the nod to invest in Sarawak, particularly at the Samalaju Industrial Park. He said a major challenge for the government had always been the large size of the state with a relatively small population of 2.5 million but it would continue to strive to bring a better life to the people, including through the implementation of Sarawak Corridor of Renewable Energy. On the seminar, Taib said, it was an ideal platform for the Sarawak delegation to showcase and promote Sarawak in relation to business opportunities provided in Score and the Tanjung Manis Halal Hub. -- BERNAMA