Sarawak seeks more incentives in 2027 budget to draw investors

Sarawak Deputy Premier and International Trade Minister Awang Tengah Ali Hasan met with Federal Investment, Trade and Industry Minister Johari Ghani in Putrajaya to discuss incentives and infrastructure improvements for 2027's budget, aiming to attract investments in semiconductor manufacturing, high-tech industries, and clean energy.

The discussions at the meeting centered on utilizing the proposed incentives to bolster high-value and emerging sectors, such as advanced manufacturing, semiconductors, and the digital economy, according to a statement from Sarawak's international trade, industry, and investment ministry. Both parties emphasized the necessity of providing suitable incentives, infrastructure, skilled labor, and a supportive investment environment to facilitate new investments and the growth of existing industries.

During the meeting, Sarawak's development priorities under its post-Covid-19 2030 strategy were also addressed, alongside Malaysia's overall industrial and investment strategy. These priorities encompassed generating high-quality jobs, cultivating local skills, empowering local businesses, and promoting technological adoption and innovation.