Sarawak Secures USD1.5 Billion in Japanese Investment

Sarawak Attracts USD1.5 Billion Investment from Japan Sarawak, a state in Malaysia, is experiencing a surge in foreign investment. Two prominent Japanese companies are planning a combined investment of USD1.5 billion in the state's high-tech and chemical sectors. This development signifies Sarawak's growing appeal as a destination for international businesses. According to a press release by Sarawak's Ministry of International Trade, Industry, and Investment (MINTRED), the projects are currently in their initial planning phases. Deputy Premier Datuk Amar Awang Tengah Ali Hasan, who also serves as the Minister of International Trade, Industry, and Investment, expressed his commitment to expediting the approval process for these investments. He highlighted Sarawak's stable business environment as a key attraction for investors. One project involves Tokuyama Corporation's construction of a polycrystalline silicon facility, valued at USD435 million. This collaboration with OCI Company Ltd. from South Korea aims to establish Sarawak as a global leader in semiconductor production. The second project, a joint venture by a consortium of Japanese companies, focuses on the chemical industry and is estimated at USD1 billion. These investments align with Sarawak's Post-COVID-19 Development Strategy (PCDS) 2030, emphasizing economic prosperity, social inclusion, and environmental sustainability. The state government's proactive approach and commitment to facilitating these projects demonstrate their dedication to economic growth and attracting foreign investment.