KUALA LUMPUR: The first installment of the Malaysian Development Investment Authorities'(Mida) Invest Series - Sarawak: Unfolding Its Business Potential" in Kuala Lumpur which attracted over 200 participants, showcased Sarawak's potential in the clean energy generation sector.

The programme featured three sessions that highlighted Sarawak's strategic initiatives and investment opportunities in key sectors, sustainable port infrastructure development, and the roadmap of digital economy and digital transformation in Sarawak, presented by speakers from relevant state agencies.

Sarawak Premier Tan Sri Abang Johari Tun Openg who was in attendance at the event said there are huge opportunities for investors to collaborate with Sarawak and grow the clean energy generation sector.

"We are currently prioritising key areas such as Large-Scale Solar, BioEnergy including Biogas and Biomass, Waste to Energy, Pump Hydro Storage to address the intermittency of Variable Renewable Energy, and many more clean energy generation technologies that can be commercially deployed in Sarawak," he said.

Sarawak's Deputy Premier/Second Minister Natural Resources and Urban Development/Minister for International Trade, Industry and Investment Datuk Amar Awang Tengah Ali Hasan also said that the state offers a compelling value proposition across various economic sectors aligned with sustainable development goals and environment, social and governance principles.

"These principles are integral parts of our development strategy. Therefore, unfolding a sustainable future for Sarawak is about showcasing balanced economic growth with environmental stewardship and inclusive future," he added.

Mida CEO Sikh Shamsul Ibrahim Sikh Abdul Majid said one of the core reasons Mida Invest Series events are held is to help all states achieve their full potential in bringing about development.

He added that Mida organises such strategic promotional events to highlight each state and region's unique comparative and competitive advantages.

In 2023, Sarawak achieved a significant milestone with a total approved investment of RM7.8 billion in manufacturing and selected services which are under Mida's purview, reflecting substantial growth of 387.5 per cent compared with 2022.

Mida said this upward trajectory is expected to continue in 2024, with Sarawak securing RM1.3 billion in approved investments under the same sectors in the first quarter (January to March), contributed by the foreign private investment, encompassing eight projects expected to create 1,171 potential employments in Sarawak.

https://www.nst.com.my/business/economy/2024/07/1077803/midas-invest-sarawak-showcases-sarawaks-potential-clean-energy