Sarawak is positioning itself as a leader in the green economy, anticipating a substantial investment potential of US$7 billion over the next decade. This growth is facilitated through strategic collaborations with international industry leaders, according to Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.

As reported by the Sarawak Public Communications Unit (Ukas), the investments will be propelled by the signing of seven Memoranda of Understanding (MoUs) involving Petroleum Sarawak Berhad (Petros), China Jiangsu International Economic Technology Cooperation Group Ltd (CJI), and several major Chinese companies committed to developing the Kuching Low Carbon Hub (KLCH).

Investment and Economic Growth

“The interest demonstrated by these companies indicates a growing confidence in KLCH’s potential as a globally connected low-carbon industrial centre,” he stated.

“Today, seven MoUs were signed between various enterprises within the green economy sector. Over the next ten years, this is expected to generate investment potential totaling US$7 billion, or approximately RM20 billion.

“These investments are set to create numerous new job opportunities, particularly in high-skilled sectors, aligning with our goals to enhance household income,” he mentioned during a press conference that followed the signing of a Framework Agreement between Petros and CJI and the exchange of the seven MoUs at CJI’s headquarters in Nanjing, China.

Human Capital Development

Abang Johari further noted that the US$7 billion investment will significantly bolster Sarawak’s gross domestic product (GDP), with government aspirations targeting RM282 billion in GDP by 2030.

“With this investment, along with others that are either ongoing or anticipated to flow into Sarawak, I am confident we can meet our objectives,” he asserted.

He emphasized a significant collaboration between Petros and CJI in the realm of human capital development, which includes knowledge transfer, technical training, and the development of local talent through industrial training programmes and educational joint ventures.

“We recognize that the Jiangsu region possesses a high level of technical expertise. This represents an opportunity for educational collaboration,” he added.

“For instance, Sarawak currently offers free education for our students. Perhaps in their third year, they could be sent to Jiangsu for industrial training.

“As these industries commence operations in Sarawak, they can employ these students as technical personnel. This will provide significant advantages to the state,” he concluded.

Also present at the event were Deputy Minister of Utility (Sarawak Energy Berhad and Petros) Datuk Ibrahim Baki, Petros chairman Tan Sri Datuk Amar Hamid Bugo, CJI chairman Song Qinbo, Petros group CEO Dato Janin Girie, and CJI president Zhu Xingbao.

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