RM11.2-billion approved investments secured in first half of 2026

KUCHING: Sarawak recorded RM11.2 billion in approved investments in the first half of 2026, reflecting continued investor confidence in the State’s economic potential, says Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.

He said Sarawak’s economic structure had undergone significant transformation since 2017, driven by the Post COVID-19 Development Strategy 2030 (PCDS 2030), which aims to diversify the state’s economy beyond its traditional reliance on commodities.

“For the first half of 2026, Sarawak recorded RM11.2 billion in approved investments, reflecting continued investor confidence in our State’s economic potential,” he said.

Abang Johari was speaking at the parade held in conjunction with the 80th official birthday of the Head of State, Tun Pehin Sri Dr Wan Junaidi Tuanku Jaafar at Padang Merdeka here today (Oct 10).

He said Sarawak was leveraging its abundant natural resources, particularly oil and gas, to develop higher-value downstream products.

The State’s extensive water resources also provided an advantage in generating clean electricity, which is increasingly important in supporting emerging industries, he added.

Beyond power generation, water resources are essential for cooling data centres, giving Sarawak an added advantage in attracting investments in the sector.

Abang Johari expressed confidence that combining the state’s natural resources and energy strengths with technology, research, innovation, expertise, human capital development and environmental sustainability would position Sarawak as an emerging economic powerhouse in the region by 2030.

He said the State was expanding into new sectors, including semiconductors, advanced manufacturing, green energy, hydrogen and methanol production, artificial intelligence, aerospace, agriculture and food manufacturing.

“These sectors will shape the future of Sarawak’s economy,” he said.

He stressed that Sarawak must develop a conducive investment ecosystem alongside its economic transformation to attract further investments.

Abang Johari also revealed that during his visit to Bangkok, Thailand, last month, he met two groups of investors from Thailand and Japan who expressed interest in investing up to RM1 billion in petrochemical production.

He said the investors recognised Sarawak’s strengths in low-carbon energy and its oil and gas resources.

He added that global technology company SoftBank and its founder had visited Sarawak two days earlier for discussions, reflecting their confidence in the State and its future prospects.

Abang Johari said incoming investments must also create opportunities for local companies in engineering, maintenance, logistics, technology, manufacturing and professional services to participate in the State’s economic growth.

Stronger local economic activity, he said, would generate more employment opportunities for Sarawakians and increase household incomes.

He emphasised that Sarawak’s economic transformation must go beyond attracting investments to ensuring that the benefits of growth reach local businesses and the people.