KUCHING: Sarawak continues to be one of the most preferred investment destinations in the country due to its business-friendly policies.
Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said these business friendly policies aim to boost investor confidence and contribute to the State’s economic growth.
He added that several initiatives have also been implemented to complement these policies.
“Moreover, the Sarawak government has allocated RM7 million to InvestSarawak, an entity aimed at attracting foreign direct investments (FDI) into the state.
“This investment reflects a strategic effort to stimulate economic growth in Sarawak by encouraging both local and foreign investors,” he said.
He said this in his speech read by International Trade and Investment Deputy Minister Datuk Dr Malcolm Mussen Lamoh at the Malaysian Industrial Development Finance (MIDF) Automation and Digital Forum: The Journey Together Sarawak Edition here Tuesday (Nov 7).
On the forum here, he stated that when it comes to automation, digitalisation, and Industry 4.0, the nation must be prepared for the consequent challenges as they will drive the nation to be more progressive and forward-thinking.
He pointed out that overcoming these challenges is essential to stay ahead of competitors and move up the global value chain, leading to long-term economic growth for Malaysia.
“To address some of these challenges, the government through MIDF has made available various scheme funds that can assist businesses to adopt automation and digitalisation in their operations.
“These government scheme funds are offered at very affordable financing rates of as low as 2 per cent per annum on monthly rest for small and medium-sized enterprises (SMEs),” he said.
In light of this, Abang Johari said Malaysian companies should utilise these resources and prioritise future-oriented strategies.
“Embracing innovation and forging smart partnerships will propel industry growth. It is crucial for companies to adopt automation and other intelligent technologies, invest in talent development by retraining and upskilling their workforce, and engage in collaborations with the numerous training institutions present in the country.
“Having said that, I hope that this forum provides you with a deeper comprehension of the automation and digitalisation journey,” he said.
