KUCHING: The establishment of Sarawak Invest as part of the Sarawak Post-Covid-19 Development Strategy (PCDS) 2030 will facilitate investments and transform the state into a preferred investment destination, said an economist.
Universiti Malaysia Sarawak (Unimas) economic lecturer Dr Afiza Abu Bakar said this includes Domestic Direct Investment (DDI) and Foreign Direct Investment (FDI).
“Apart from establishing Sarawak Invest, the state should provide a clear and precise guideline to accommodate the ease of doing business especially with the new norm’s environment.
“This includes assuring the investors of continued productivity and meeting expectations with adherence to international standards,” she added.
According to her, this is important so that investors would feel assured that their investment is taken care of following rules and procedures.
“In line with this, the state should also make investors aware of its working policy as assurance. The fact that the border has been closed for the longest time in history, more incentives on cross border trading should be highlighted further to improve its appeal to investors,” she mentioned.
Commenting on the best foreign investors for the state, she noted that the state should look for investors that can deliver best values to the economic recovery.
“For prospective investors coming in, we should focus on investors that can create jobs for locals, improve and sustain infrastructure such as information technology (IT) that supports data and innovation at the same time.
“Countries like China, Japan and South Korea are likely to have Sarawak as their preferred investment destination in the manufacturing, mining and construction sectors.
“Investing in productivity and jobs will assist in re-engaging people in the labour force,” she opined.