Sarawak’s renewable energy strength, particularly hydropower, continues to attract foreign investment despite global geopolitical tensions affecting capital flows.

KUCHING: Sarawak remains resilient and continues to leverage its strategic advantages to maintain strong investor confidence, particularly within the energy sector, despite geopolitical tensions in West Asia challenging global investment flows.

Deputy Premier Datuk Amar Awang Tengah Ali Hasan stated that the state’s abundant renewable energy, especially hydropower, provides a significant competitive edge as countries worldwide grapple with supply shortages and higher prices.

“Our strength lies here, and while other countries face constraints, we keep expanding our renewable energy capacity which remains a major draw for investors,” he told reporters after an Aidilfitri event.

Awang Tengah, who is also the Minister of International Trade, Industry and Investment, confirmed that investor interest remains robust, particularly for solar projects involving investors from China and the Middle East.

He revealed that there have been recent visits from potential investors with investment commitments already in place, though the state government will continue to monitor global developments closely.

Sarawak recorded more than RM16 billion in foreign direct investment last year, complemented by domestic direct investment across key sectors including services and manufacturing.

Approved investments over the past five years have exceeded RM16 billion, with most projects either completed or progressing steadily according to plan.

The state government has pledged to continue its efforts to attract further investment and capitalise on its renewable energy resources.

 The Sun Malaysia